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The banking System of Belarus
The banking system of Belarus was created in the early 1990ies on the basis of Soviet banks which were located on its territory. It comprises two levels: the National Bank as well as commercial banks and non-bank financial institutions.
License fees
A licensing fee is paid either by an applicant or a license holder into a bank account of the licensing agency. The fee is paid in Belarusian rubles at the exchange rate stipulated by the National Bank as of the first date of the month the applicant or the license holder approached the authorities to obtain a license, amend or modify the license or obtain a duplicate.
General provisions regulating representative offices of foreign organizations
Procedure for opening representative offices by foreign organizations
Specific features of activities pursued by foreign organizations
Extension of the validity of the permit for the establishment of a representative office and liquidation of representative offices of foreign organizations
Sanctions for violating business legislation
Economic sanctions will equal up to 2% of the funds not received within the specified period of time (the value of goods not supplied within the specified period of time, work not performed and services not rendered) for each day of the delay but not in excess of the funds not received within the specified period of time (the value of goods not supplied within the specified period of time, works not performed and services not rendered)
Taxes in Belarus
Value-added tax, Deduction to the national fund for supporting agricultural producers and agricultural research, tax payable by vehicle owners, Excise duties, Profit tax, Revenue tax, Income tax payable by individuals etc.
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Economy as a catalyst of change
The state of the Belarusian economy predetermines many social and political factors as well as reactions of voters. In autumn 2006 only 16%[1] of the population and about 20% of businesses predicted difficulties with new Russian prices for gas and oil. Over 60% of both businesses and population were pleased with the social economic situation.
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