Tax relief for renewable energy investors (Decree No 10 of 6 August 2009 on additional conditions for investment activities as amended; Tax Code of Belarus of 29 December 2009, No 71-W)
The Decree sets additional conditions for foreign investment and provides financial incentives for foreign businesses investing in the country. Financial support is not strictly limited to renewable energy projects but they are eligible. Incentives include:
• Right for investors to deduct full amount of VAT paid on the purchase of goods and property rights
• Exemption from VAT and income tax in connection with property transfer
• Exemption from land tax
• Exemption from rent for land payments provided that land belongs to the state
Articles 96, 194 and 207 of the Tax Code of Belarus (2009) provide details of the above incentives specifically for renewables.
