The government in Minsk has introduced new restrictions against Western countries that imposed sanctions against Belarus.
The most important innovation of the Resolution of the Council of Ministers No. 299 signed by Prime Minister Raman Galouchanka is the restriction on the payment of profits and dividends to investors from countries on the government’s special list.
The restriction begins to work if the profit or dividends that an investor from an “unfriendly” country wants to distribute exceed 80 thousand basic units (3.2 million rubles). The limit is set for one calendar year, for all parties between whom the company is going to divide the money.
It is possible to pay dividends exceeding 80 thousand basic units, but for this you need to apply for permission from the regional executive committees or the Minsk City Executive Committee. And in order to obtain a permit, it is necessary that at least 70% of employees work in the company compared to last year’s figure and that the profits and dividends that the company from an “unfriendly” country plans to distribute do not exceed 50% of the average direct investment on a net basis over five years.
It is also necessary that the company does not have delays in payments on loans or payments of salaries and deductions to the Social Protection Fund.
There are 13 positions in the list of “unfriendly ” countries. Officially, it is called as follows: “the list of foreign states committing unfriendly acts against the Republic of Belarus, its citizens and (or) organizations. The list includes:
1. Australia, 2. the states of the European Union, 3. Canada, 4. Liechtenstein, 5. Norway, 6. New Zealand, 7. Albania, 8. Iceland, 9. North Macedonia, 10. Great Britain, 11. USA, 12. Montenegro, 13. Switzerland.