Restructuring Of Customs Debt – International Trade & Investment

From October 4, 2022 to December 31, 2023 Belarusian legal
entities can get the opportunity to gradually restructure their
customs debt within 1 year. This applies to customs payments,
special, anti-dumping, countervailing and other duties, penalties,
interest and other payments collected by customs authorities.

This opportunity will be given to individuals who meet one of
two criteria:

A) Carry out activities corresponding to the priority activities
(sectors of the economy) for investment (for example, the
production of food, beverages and tobacco products, basic
pharmaceutical products and pharmaceuticals, computing, electronic
and optical equipment). More information about the list of
activities can be found at the following link:

https://www.economy.gov.by/uploads/files/002839_181931_51.docx

B) Are the manufacturer of goods determined by the Council of
Ministers of the Republic of Belarus. At the moment, these products
are not defined. It is expected that it will be approved within the
next 2 months.

The decision on restructuring is made by the State Customs
Committee within 10 days based on the application of the legal
entity, which indicates the circumstances preventing the repayment
of the debt. Additionally, it is necessary to draw up and attach a
debt repayment schedule, a petition from the regional executive
committee (for private companies).

In case of violation of the payment schedule, the remaining
amount of the customs debt is collected, penalties are charged on
it for each calendar day of delay.

More information can be found at the following link.

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.