Planned measures to support business resulted from COVID-19

01/04/2020
Planned measures to support business resulted from COVID-19

The Government of Belarus prepared the draft of President Decree (hereinafter– «the Decree») in order to support business engaged in economic activity, which is the most vulnerable to the adverse impact of epidemiological situation (tourist and transport services, hotel and sanatorium business, food service, personal services, etc.).

Who is empowered to use the state support?

Tenants of the state owned real estate, as well as the real estate owned by companies with more than 50% of the state owned shares (stocks) in the authorized capital.

The Draft of Decree provides for:

  • deferred payment of rent charge for the use of property (reimbursement of expenses related to the maintenance and operation of property) until September 30, 2020 at the request of the tenant of real estate.
  • deferred payment of land rent charge, land tax, and real estate tax paid by the renter at the expense of rent charge (expenses reimbursed by bailees) by renters of real estate, provided if such deferral is granted to tenants, with installment payments until December 31, 2020 inclusively.
  • a moratorium on increasing the basic rent charge and rent charge until September 30, 2020.
  • state legal entities have the right to grant buyers of state property engaged in the activity listed above, as well as providing personal services to the population, a deferred payment for state property sold by installments until September 30, 2020.
  • the deferral is granted to the buyer for the period specified in the corresponding application. The buyer repays the amount of debt monthly in equal installments from October 1, 2020 to December 31, 2020 inclusively.
  • It is proposed not to charge interest for using deferred payment and installments.

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