PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of June 20, 2011 No. 257

About approval of the international treaty and some questions of its realization

1. Approve the Agreement on loan ("Enhancement and Upgrade of the Highway" project) between the Republic of Belarus and the International Bank for Reconstruction and Development signed in Minsk on November 19, 2010.

2. Determine that:

2.1. are exempted from the taxation on value added turnovers on realization by prime contractors to the customer of goods (works, services) for project implementation "Enhancement and upgrade of the highway" called in Item 1 of this Decree (further - the project).

The tax amounts on value added paid by prime contractors in case of purchase of goods (works, services) including the works performed by subcontractors which cost does not join prime contractors in tax base on the value added tax, used for project implementation are deductible prime contractors in full (without distribution of the tax deductions) irrespective of the tax amount on value added estimated from turnovers on sales of goods (works, services).

The basis for tax exemption on value added of goods (works, services) specified in part one of this subitem, and implementation of the tax deductions according to the procedure, established by part two of this subitem, is the conclusion of the Ministry of Transport and Communications, confirmatory that:

realization by prime contractors of goods (works, services) specified in part one of this subitem is performed for project implementation;

the goods (works, services) specified in part two of this subitem are acquired, paid by prime contractors and used for project implementation.

In source accounting documents applied by transfer by prime contractors to the customer of the works performed by subcontractors whose cost does not join prime contractors in tax base of the value added tax of tax amount are not allocated for value added and are not shown to the customer;

2.2. Ceased to be valid according to the Presidential decree RB of 31.01.2013 No. 47

3. This Decree becomes effective after its official publication.

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