OREANDA-NEWS. July 18, 2013. President of Belarus Alexander Lukashenko signed Decree No. 308 “Concerning a number of issues of manufacturing Slutsk belts”.

In line with the document, from 1 January 2013 to 31 December 2015 no customs duties and VAT will be levied on imported equipment, parts, raw materials which will be used to implement the investment project to manufacture analogues, replicas and stylized designs of Slutsk belts and souvenirs at the Slutsk Belts Company.

Equipment, parts and raw materials will be imported from third countries because they are not produced in Belarus and the Customs Union. If the imported goods are exempt from customs duties and value added tax, the company will be able to retain large amount of funds in its budget and spend them on the technical upgrade of existing facilities, purchase of intangible assets, production certification.

There are also plans to exempt the sale of analogues, replicas and stylized designs of Slutsk belts and souvenirs produced under the Slutsk Belts trademark in Belarus from the value added tax.

The decree has been adopted as part of the national program to restore technologies and traditions of Slutsk belts’ production and promote the manufacture of national souvenirs under the Slutsk Belts trademark. The national program is designed to run in 2012-2015.