Belarus sets 10% limit on marginal rate of return for importers of socially important goods
<p> MINSK, May 12 - PrimePress. Belarus has limited to 10% the marginal rate of return for determining the amount of profit to be included in selling prices for importers of socially important goods as per resolution No.36 issued by the Ministry of Antimonopoly Regulation and Trade (MART) on May 7, 2020. The resolution was posted on the National Legal Internet Portal on May 12. </p> <p> </p> <p> Importers of socially important goods are to include contract prices, import costs (customs payments, cargo insurance, interest on loans, transportation costs, etc.), sales costs and profitability in selling prices. </p> <p> </p> <p> Legal entities and individual entrepreneurs engaged in storing and selling stabilization funds (stocks) of foods and/or procuring from agricultural producers and households may add the costs of procurement, storage and transportation to the price of goods. </p> <p> </p> <p> Wholesale markups to selling prices must not exceed the trade markups previously established by MART regardless of the number of legal entities or individual entrepreneurs involved in the sale of such goods. </p> <p> </p> <p> The resolution also details the list of socially important goods to which state regulation applies. In particular, “butter” is replaced with “cow milk or cream butter (except for dessert chocolate and fruit butter, butter with other fillers and melted butter)”; “cooking edible salt” is replaced with “edible salt, including iodinated and fluorinated.” </p> <p> </p> <p> The list of 26 socially important goods subject to state price regulation for a period of 90 days was compiled in April 2020 has not changed. As reported, the list was approved by government decree No.205 of April 4, 2020. It includes canned meat, canned fish, milk powder, coffee, bottled drinking water, solid toilet and laundry soap, matches, sanitary pads and diapers, toilet paper, respiratory protective equipment (masks for individual use) and disinfectants (antibacterial, disinfecting), including gels and sprays, fish, butter, wheat flour, sunflower and rapeseed oil, sugar, salt and other products. </p> <p> </p> <p> The maximum wholesale and trade markups for socially important goods set by MART resolution No.30 of April 15, 2020, have not changed either standing at 15% to 30% depending on commodity: milk and dairy products – 15%; bread and bakery products, sausages and canned meat – 20%; vegetables – 30%; fresh apples – 30%; chicken eggs – 25%; butter – 20%. Resolution No.30 introduced temporary regulation of prices of socially important goods for up to 90 days by limiting producers’ profitability to the profitability registered in January-February 2020 (at or below 10% if the profitability in January-February was below 10%). End </p>
2020-05-13
Primepress
Belarus sets 10% limit on marginal rate of return for importers of socially important goods
MINSK, May 12 - PrimePress. Belarus has limited to 10% the marginal rate of return for determining the amount of profit to be included in selling prices for importers of socially important goods as per resolution No.36 issued by the Ministry of Antimonopoly Regulation and Trade (MART) on May 7, 2020. The resolution was posted on the National Legal Internet Portal on May 12.
Importers of socially important goods are to include contract prices, import costs (customs payments, cargo insurance, interest on loans, transportation costs, etc.), sales costs and profitability in selling prices.
Legal entities and individual entrepreneurs engaged in storing and selling stabilization funds (stocks) of foods and/or procuring from agricultural producers and households may add the costs of procurement, storage and transportation to the price of goods.
Wholesale markups to selling prices must not exceed the trade markups previously established by MART regardless of the number of legal entities or individual entrepreneurs involved in the sale of such goods.
The resolution also details the list of socially important goods to which state regulation applies. In particular, “butter” is replaced with “cow milk or cream butter (except for dessert chocolate and fruit butter, butter with other fillers and melted butter)”; “cooking edible salt” is replaced with “edible salt, including iodinated and fluorinated.”
The list of 26 socially important goods subject to state price regulation for a period of 90 days was compiled in April 2020 has not changed. As reported, the list was approved by government decree No.205 of April 4, 2020. It includes canned meat, canned fish, milk powder, coffee, bottled drinking water, solid toilet and laundry soap, matches, sanitary pads and diapers, toilet paper, respiratory protective equipment (masks for individual use) and disinfectants (antibacterial, disinfecting), including gels and sprays, fish, butter, wheat flour, sunflower and rapeseed oil, sugar, salt and other products.
The maximum wholesale and trade markups for socially important goods set by MART resolution No.30 of April 15, 2020, have not changed either standing at 15% to 30% depending on commodity: milk and dairy products – 15%; bread and bakery products, sausages and canned meat – 20%; vegetables – 30%; fresh apples – 30%; chicken eggs – 25%; butter – 20%. Resolution No.30 introduced temporary regulation of prices of socially important goods for up to 90 days by limiting producers’ profitability to the profitability registered in January-February 2020 (at or below 10% if the profitability in January-February was below 10%). End