Belarus has issued Resolution No. 408 dated June 5, 2024 in the Official Gazette, which introduces VAT exemptions for the import of specific technical equipment, spare parts, and related components.
This follows after Belarus published Presidential Decree No. 77 of March 4, 2024 which introduced VAT exemption for the import of technical spare parts and components not produced domestically.
To qualify for the exemption, taxpayers must provide the customs authority with a report from the authorised body verifying that the technical equipment, spare parts, and components are not produced in Belarus.
Additionally, the technical equipment must be recorded as fixed assets for accounting purposes and used within one year of import. Spare parts and components must be used within six months from the date of import.
This exemption applies to items listed in a document approved by the Council of Ministers as detailed in Resolution No. 408. The list includes various products, including equipment and components for nuclear reactors.
This resolution went into effect starting 7 June, 2024.
