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Pripyat Polesie

The state program of social and economic development and comprehensive utilization of natural resources of Pripyat Polesie for 2010-2015 was approved by presidential decree No.161 on 29 March 2010.

The goal of the program is to ensure sustainable social and economic development of Pripyat Polesie by promoting an integrated use of natural resources, building up the export potential and encouraging investment, maintaining the conditions for the reproduction of the natural resources potential, minimizing the negative impact of natural calamities and creating a favorable living environment.

Pripyat Polesie includes three districts of Brest Oblast (Pinsk, Stolin and Luninets) and four districts of Gomel Oblast (Zhitkovichi, Petrikov, Mozyr, and Narovlya). The decree of the head of state has granted a number of benefits to the organizations operating in Pripyat Polesie.

Commercial organizations that were created (with the exception of those created by means of reorganization) after 1 January 2010, domiciled and operating in Luninets, Pinsk and Stolin districts of Brest Oblast and also in Zhitkovichi, Mozyr, Narovlya, and Petrikov districts of Gomel Oblast, as well as the organizations that established, after 1 January 2010, subsidiaries and other separate units with separate balance sheet and current (settlement) or any other bank account domiciled and operating in these districts are exempt from paying profit tax in part of the sale of their goods (works, services) within five years from the date of the establishment of commercial organizations and subsidiaries (in part of the operation of these units), provided there is separate accounting, and are also exempt from other taxes and fees (excluding value added tax, excise duties, stamp duty and off-shore duties, state duties, customs duties and taxes, which an organization calculates, withholds and pays while acting as a tax agent).

The amounts of financial and other assistance provided to organizations and individual entrepreneurs to implement the program are included in the cost of non-sale operations, and are not included into taxable non-operation income.

In 2010-2021 the organizations that use loans to implement the program are provided with a compensation for the interest rate on bank loans in the amount of half the refinancing rate of the National Bank for loans in Belarusian rubles and 6% per annum for loans in foreign currency.

In addition, in 2010-2021 the Brest and Gomel Oblast Executive Committees will provide additional support to the organizations that use loans to implement the program. They will compensate for the interest rates on bank loans in the amount of 0.25 of the National Bank’s refinancing rate for loans in Belarusian rubles and up to 3% for loans in foreign currency.