Belarus’ manufacturers of innovative products to get additional benefits

There are plans to provide additional benefits to Belarus’ manufacturers of innovative products, Igor Voitov, Chairman of the State Science and Technology Committee (SSTC), said at a press conference on 24 January.

A draft decree, which is now being worked out by the SSTC on the instructions of Belarusian Prime Minister Mikhail Myasnikovich, provides for a range of incentives in order to generate an increase in the manufacture of innovative products. “We are working on a number of new decrees. This one envisages tax preferences necessary to proceed to new advanced technological paradigms,” Igor Voitov said.

He also stressed that in line with the draft decree, manufacturers and distributors of innovative and high-tech products will be exempt from income tax. The draft decree also stipulates other benefits. “All these issues are also being addressed in the draft law, which regulates the national innovation policy. At the moment the draft law is being finalized,” Igor Voitov added.

He also said that the SSTC defined the terms of innovation and technological inspections of companies. “In the past inspections focused on such aspects as energy and ecology. However, the decree prepared in cooperation with the National Academy of Sciences of Belarus and the Belarusian Economy Ministry streamlines the procedure,” Igor Voitov said. The work on its implementation is being carried out with the assistance of foreign experts.

According to