On April 16th, President of Belarus Aleksandr Lukashenko signed Decree No. 129 On Simplifying the Procedure for Providing Property to Agricultural Organisations, sb.by reports citing the Head of State’s press service
The decree allows legal entities to give movable property to agricultural organisations for free use without charging for depreciation, maintenance, operation, or repairs. They can also write off the residual value of the property transferred free of charge, along with the expenses related to its transfer, from additional capital and retained earnings (uncovered loss).
According to the decree, government bodies and organisations can decide to provide free (sponsorship) assistance to agricultural organisations without needing prior approval. Businesses can also offer such assistance in the form of movable property regardless of their financial performance.
