Projects
Government Bodies
Flag Sunday, 14 July 2024
All news
All news
Economy
13 June 2024, 12:48

Exemption of process equipment from import duties discussed in Minsk

Photo courtesy of the State Committee on Science and Technology
Photo courtesy of the State Committee on Science and Technology
MINSK, 13 June (BelTA) – A republican seminar took place at premises of Belarusian National Technical University’s science and technology park Polytechnic in Minsk to discuss ways to improve the efficiency of the work of science and technology parks and their resident companies by means of using the available privileges with regard to import customs duties and the value added tax, the press service of the State Committee on Science and Technology told BelTA.

Opening the seminar, the committee’s First Deputy Chairman Denis Korzhitsky stressed that a strategy for developing the national economy through effective use of innovations offers a significant scientific potential for the state. The creation and development of innovative infrastructure subjects acts as a tool for merging science, education, and manufacturing.

Participants of the seminar considered the possibility of waiving import customs duties for importing process equipment, components, and spare parts, raw materials and other materials needed to implement investment projects as well as for importing raw materials, materials, components for manufacturing innovative products. The possibility of reducing the current rates taking into account Belarus’ international commitments was also considered. The exemption of imported process equipment, components, and spare parts, which analogs are not produced in Belarus, from the value added tax within the framework of presidential decree No.77 of 4 March 2024 was explained.

Participants of the seminar were made familiar with the practical experience the state enterprise BNTU Science and Technology Park Polytechnic has had in the course of using the available privileges with regard to import customs duties and the value added tax.

Over 70 representatives of Belarus’ science and technology parks and their resident companies, representatives of the Agriculture and Food Ministry, the Education Ministry, the National Academy of Sciences of Belarus, the Economy Committee of the Minsk Oblast Executive Committee took part in the seminar.

The seminar was organized by the State Committee on Science and Technology and the state institution Belarusian Institute for System Analysis and Information Support of the Scientific and Technical Sphere (BelISA).

Subscribe to us
Twitter
Recent news from Belarus