Sergey Mashonsky Senior Partner

Transcription

1 Dear friends, What is the right way to round the prices off due to the future denomination? Is the consent of the employee necessary to reduce the salary times due to this denomination? What will change when digital VAT invoices are introduced? Who will control the compliance with the antimonopoly legislation? You will get this information and even more in the first summer issue of our Newsletter. Our team is always happy to provide you with additional explanations on these matters! Newsletter Sergey Mashonsky Senior Partner Note: The refinancing rate of the National Bank of the Republic of Belarus has been reduced to 20 % per annum since July 1, DENOMINATION-2016 Soon, on July 1, 2016, we take into our hands new money, which design has been created in However, the denomination is not simple replacement of the old money with the new ones with fewer quantities of zeros; it includes various legal issues to be resolved. We are ready to help you with some of them right now. If the limit of the retail price is overestimated, there is the allowance and (or) markup, the latter shall be corrected towards the Alexander Korsak reduction. On the contrary, when stating the retail prices for the Partner tobacco products the limits of the retail price shall be met. Letter of the Ministry of Trade of the Republic of Belarus dated No. 0316/509k On Rounding off the Prices for the Regulated goods Due to the denomination many employers face the issue whether it is necessary to modify the contracts with their employees or not. The Ministry of Labour and Social Protection explains that making modification of the labour contracts due to the denomination is not urgent and shall be carried out in a planned manner. However, the correction of the staff list shall be made. Moreover, applying the procedure and conditions provided by the Labour Code for the modification of the substantial working conditions by the employer is not necessary, since this modification is made due to the entering of the legislative act into force. 1

2 We advise you to place the information regarding the provisions of the Decree, abovementioned Clarification 1 and this clarification in the places available for all employees. Clarification of the Ministry of Labour and Social Protection of the Republic of Belarus on the Procedure of Making Amendments to Labour Contracts with Employees due to Denomination of the Official Currency Unit of the Republic of Belarus (available in Russian on the official web-site of the Ministry of Labour and Social Protection since ) The denomination provides with new challenges we will be happy to help you! 2

3 DIGITAL VAT INVOICE: HIGH TIME TO USE On July 1, 2016 the provisions of the Tax Code, in accordance to which the digital VAT invoice (the DVI) will become an obligatory electronic document for all payers of the VAT who have a taxation object of the VAT or need to re-expose or show the corresponding VAT amounts, enters into force. Therefore, the form of the DVI is introduced, as well as the Regulations on Creation (including Filling in of the DVI), Issuance (Sending), Receipt, Signing and Storage of the DVI are approved; and both of them enter into force on July 1. The certain list of the circumstances when the DVI shall be created is provided; as well as it is stated that the electronic document management of the DVI between the buyers and the sellers shall be carried out through the Digital VAT Invoices Portal. The user obtains the access to the Personal Account on the Portal after the authorization by the personal key of the digital signature. The procedure of creation, issuance (sending), receipt, signing, storage of the DVI, filling the prerequisites in, creation of the original, additional or corrected DVI, its annulment, as well as the peculiarities of the filling of the DVI in when carrying out certain types of commercial operations are among other issues regulated by the Resolution. Resolution of the Ministry of Taxes and Duties of the Republic of Belarus dated No. 15 On Establishment of the Form of the Digital VAT Invoice and Approval of the Regulations on Creation (including Filling in of the DVI), Issuance (Sending), Receipt, Signing and Storage of the Digital VAT Invoice 3

4 HIGHLY QUALIFIED FOREIGN EMPLOYEES: THE CONDITIONS OF THEIR EMPLOYMENT IMPROVED Nowadays, the term of validity of the special permission for employment that is being given to the foreign employees makes one year; this fact cannot always be good for the company, since after one year the company can lose the valuable employee, if there is an applicant who is a citizen of the Republic of Belarus. We have good news for the employers who are going to employ highly qualified foreign citizens: when obtaining special permissions for this category of employees after July 15 the term of validity of these permissions will make two years. Aleksei Mikhailov The foreign citizens who meet the following criteria shall be Junior Associate considered the highly qualified employees: џhigh level of the professional knowledge and skills proved by the document about education; џworking experience of 5 years and more; џthe amount of salary stipulated in the labour contract makes fifteen minimal monthly salary and more (the amount the of minimal monthly salary is annually stated by the Council of Ministers and in 2016 it makes Belarusian Rubles (approximately 105 Euro) per month). Resolution of the Council of Ministers of the Republic of Belarus dated No. 406 On Alteration and Amendments to Some Resolutions of the Council of Ministers of the Republic of Belarus and Annulment of the Resolution of the Council of Ministers of the Republic of Belarus dated No

5 IS THE OUTPUT PRODUCED IN THE REPUBLIC OF BELARUS? HERE IS THE ANSWER! It is applicable since May 28. This fact is important in the following circumstances: џin case the application of the measures of customs tariff and non-tariff regulation depends on the country where the output has been produced; џin case the term of completion of the export foreign trade operations is longer than the general term of 90 days. The criterion that allows considering the industrial output as the output produced in the Republic of Belarus is the factory at which this output is produced situated in the territory of the Republic of Belarus. In addition: џ The production shall be made in accordance with the requirements to the industrial output that shall be met in order to consider it the output produced in the Republic of Belarus under the Annex to the Resolution of the Council of Ministers of the Republic of Belarus dated No џif the title of the products is not stipulated into abovementioned Annex, the Treaty on Rules for Determining the Country of Origin of Goods in the Commonwealth of Independent States dated shall be applicable. џ It is important to take into consideration the provisions of the investment agreement, in case it has been executed. If the parameters of products do not correspond to their functional purpose, sphere where they shall be applied, quality characteristics (duration of a guarantee period or term of service, reliability, energy consumption, ecological compatibility, and etc.), the products still can be considered the output produced in Republic of Belarus. For this purpose the consent of the Ministry of Industry of the Republic of Belarus is required. Resolution of the Council of Ministers of the Republic of Belarus dated No. 402 On Determination of the Criteria of Reference of the Industrial Output to the Output Produced in the Republic of Belarus 5

6 STATE BODY OF THE ANTIMONOPOLY REGULATION IS INCLUDED INTO NEW STRUCTURE Since September 8 the Ministry of Trade will become the Ministry of Antimonopoly Regulation and Trade and will obtain the functions on provision of the counteraction the monopolistic activity and on development of business competition. The territorial bodies of the Ministry with the rights of a legal entity, departments of trade and services of the regional (oblast') and City Executive Committees, Open Joint Stock Company Belarusian Universal Commodity Exchange, as well as the Establishment Editorial Office of the Germes Magazine will be included into the system of the reformed Ministry. Moreover, the employees of the Pricing Policy Department of the Ministry of Economy and antimonopoly and pricing policy departments of the regional (oblast') and City Executive Committees will be included into the structure of the Ministry of Antimonopoly Regulation and Trade and its territorial bodies. Decree of the President of the Republic of Belarus dated 03/06/2016 No. 188 On State Bodies of Antimonopoly Regulation and Trade 6

7 ECOLOGICAL AUDIT: NEW PROCEDURE Ecological audit is an independent complex documentary examination of the fulfillment by the economic companies the requirements in the sphere of the environmental protection, as well as international standards, and drawing up of the recommendations for decrease (prevention) of the harmful environmental impact caused by the commercial and other activity. The new procedure of the ecological audit will enter into force on July 1. The ecological audit shall be carried out in relation to the list of spheres. Usage and protection of the waters, land, air and ozone layer protection, waste treatment, dangerous substances treatment, treatment with plants and animals, usage and protection of the mineral resources and others are among the abovementioned spheres. There are three forms of the ecological audit: џ Full its purpose is compliance with the legislation in the sphere of the environmental protection (including standards and technical normative legal acts) by the auditee. This form of the audit is carried out, for example, within the realization of the investment projects on construction of the industry facilities; џ Previous its purpose is further implementation of the best available methods and system of environmental management; џ Specialized its purpose is valuation of the object of the ecological audit on the certain directions of the ecological audit. This form of the audit is carried out, for example, in case the events within the liquidation of the harm caused by the unlawful usage of the natural resources are held. The ecological audit of the commercial and other activity of legal entities of individual entrepreneurs can be carried out in a voluntary or obligatory way at auditee's own expense. Moreover, the obligatory ecological audit shall be carried out within the privatization of the company as a property complex of the state unitary enterprises. However, the legislative acts can provide the other circumstances for the obligatory ecological audit. Resolution of the Council of Ministers of the Republic of Belarus dated No.412 On Approval of the Regulation on the Ecological Audit Procedure 7

8 Newsletter Law firm news LAW FIRM NEWS *** Thanks to our clients, partners and competitors IFLR 1000 Energy & Infrastructure 2016 has included our team into Top 10 advisers (Band 2) in Belarus within Energy & Infrastructure. Without your confidence in our expertise it would be much less likely to happen for the second year in a row. Confirmation of successful work of lawyers is words of their clients. It is noted in the rating that Arzinger & Partners team is business-oriented and proactive, as well as consists of experienced professionals who are very flexible and responsive to the changes that can occur during a project's realization and take a very diligent approach to documentation. We congratulate our colleagues and look forward to new joint projects! 8

9 Newsletter Law firm news LAW FIRM NEWS *** On May 24 in Vienna (Austria) Sergey Mashonsky, managing partner of the law firm Arzinger & Partners, participated in Belarusian-European investment forum in the Federal Economic Chamber of Austria. The topic of the event was investment opportunities of Belarus, as well as opportunities of cooperation of the Belarusian and European business. On the part of the European Union the forum was opened by Johannes Hahn, EU Commissioner on the European Neighborhood Policy and Enlargement Negotiations, and Alain Pilloux, Vice-president of the European Bank for Reconstruction and Development. The Belarusian delegation is headed by Vasily Matyushevsky, First Deputy Prime Minister of Belarus. Sergey Mashonsky acted as a moderator of the panel discussion Environmentally friendly construction Within the forum Sergey Mashonsky conducted series of B2B meetings with participants, where the opportunities of projects' implementation between the Belarusian and European Business in the spheres of finance, energetics, industry and other branches were discussed. 9

10 Newsletter Law firm news LAW FIRM NEWS *** The associate of Arzinger & Partners law firm Maria Golovko took part in the Estonia-Belarus Business Forum on June 15, 2016 and presented a report on the topic Investment Opportunities in the Republic of Belarus. The Business Forum, which gathered more than 60 companies, was organized by the Estonian Chamber of Commerce and Industry, Department of the Belarussian Chamber of Commerce and Industry and Estonian Development Cooperation. 10

11 Newsletter Law firm news LAW FIRM NEWS *** Two publications by Denis Safarevich, the associate of Arzinger & Partners, are included into the May issue of the magazine Currency Regulation and Foreign Trade. One of the publications Dispute Arising from the Purchase Contract deals with proving and recovering the loss of profit, since these cases are very rare and complicated. The other publication Fulfillment of Obligations under the Foreign Trade Contract Providing Deferred Payment or Payment of Termination Fee deals with methods of payment under the foreign trade contracts. We invite you to find out more about the abovementioned topics in the magazine Currency Regulation and Foreign Trade No. 5/2016! Arzinger & Partners' lawyers are always happy to share their practical experience. Arzinger and Partners LLC Nezavisimosti ave. 169 Office 304C ,, Republic of Belarus 11