- Belarusian President Alexander Lukashenko announces a decree exempting certain imported process equipment from VAT
- The goal is to modernize the nation’s production capabilities and encourage the creation of new manufacturing facilities
- The decree targets process equipment not manufactured within Belarus and aims to stimulate the industrial sector
- Businesses must prove that comparable equipment is unavailable domestically to qualify for the tax exemption
- The initiative aligns with Belarus’s strategy to embrace digital transformation and innovation
- By eliminating VAT on imported process equipment, Belarus aims to attract foreign investment and enhance productivity
- The move could lead to increased employment opportunities and reinforce Belarus’s position as an emerging hub for innovation in Eastern Europe.
Source: bnnbreaking.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
