Belarus to revise criminal prosecution for economic offenses
<p> MINSK, Jan 19 - PrimePress. Belarus may revise the grounds for criminal and administrative liability for economic offenses, Minister of Economy of Belarus Alexander Chervyakov told reporters on January 19, 2021 during the presentation of the focus points of the social and economic development of Belarus program for 2021-2025. </p> <p> </p> <p> This is meant to make the Belarusian jurisdiction attractive for business and investors. It is proposed to revise the grounds for holding economic agents criminally and administratively liable for economic offenses. “Only economic punishment will be stipulated for economic offenses,” said Chervyakov. </p> <p> </p> <p> According to the minister, a stabilization clause may be introduced for investors, which provides for a zero tax increase for up to five years under investment contracts. </p> <p> </p> <p> Belarus also considers a possibility of introducing special investment contracts with the state guarantee to investors for the purchase of a part of products produced at new facilities. An increase in cost recovery deductions, which can be attributed to costs, may be stipulated under innovative projects and projects in selected areas. </p> <p> </p> <p> Chervyakov said the mandates of local authorities may be broadened in terms of the regulation of land and property relations. </p> <p> </p> <p> As previously reported, according to the action plan of the Belarusian government for the period to 2025, it is planned to reduce in 2021-2023 the grounds for criminal and administrative liability for economic offenses, revise the punishment thresholds, and eliminate custodial sentences for violations of economic activity procedures in order to guarantee the right to reasonable business risk to managers of organizations. The government also proposes to introduce the institution of self-policing in 2021-2023 to reduce the intervention of state agencies in economic activities of organizations and self-employed persons. End </p>
2021-01-20
Primepress
Belarus to revise criminal prosecution for economic offenses
MINSK, Jan 19 - PrimePress. Belarus may revise the grounds for criminal and administrative liability for economic offenses, Minister of Economy of Belarus Alexander Chervyakov told reporters on January 19, 2021 during the presentation of the focus points of the social and economic development of Belarus program for 2021-2025.
This is meant to make the Belarusian jurisdiction attractive for business and investors. It is proposed to revise the grounds for holding economic agents criminally and administratively liable for economic offenses. “Only economic punishment will be stipulated for economic offenses,” said Chervyakov.
According to the minister, a stabilization clause may be introduced for investors, which provides for a zero tax increase for up to five years under investment contracts.
Belarus also considers a possibility of introducing special investment contracts with the state guarantee to investors for the purchase of a part of products produced at new facilities. An increase in cost recovery deductions, which can be attributed to costs, may be stipulated under innovative projects and projects in selected areas.
Chervyakov said the mandates of local authorities may be broadened in terms of the regulation of land and property relations.
As previously reported, according to the action plan of the Belarusian government for the period to 2025, it is planned to reduce in 2021-2023 the grounds for criminal and administrative liability for economic offenses, revise the punishment thresholds, and eliminate custodial sentences for violations of economic activity procedures in order to guarantee the right to reasonable business risk to managers of organizations. The government also proposes to introduce the institution of self-policing in 2021-2023 to reduce the intervention of state agencies in economic activities of organizations and self-employed persons. End