A large-scale reorganization of agricultural enterprises is planned for 2016-2017 in the Vitebsk region
The document is adopted in order to increase the efficiency of management, create conditions for the development of agricultural production in the Vitebsk region, and attract investment. The Decree proposes that the Vitebsk Regional Executive Committee, together with the Ministry of Agriculture and Food, carry out the reorganization of open joint-stock companies "Vitebsk Meat Processing Plant", "Glubokoye Feed Mill", "Orsha Grain Processing Plant", and "Polotsk Grain Processing Plant" in the established manner in 2016-2017 by merging 37 organizations from different districts into them.
The Decree also regulates issues concerning the payment by open joint-stock companies and the merged organizations into the republican and local budgets of amounts owed for the repayment of certain payments; and the provision of installment payments for debt repayment in certain cases. The document lists cases in which open joint-stock companies are entitled to take advantage of certain tax reliefs within the subsequent four years, starting from the year in which the date of their reorganization falls. For example, they will be able to reduce the tax base for profit tax by the amount of funds directed by them to acquire raw materials, agricultural machinery, and specialized agricultural capital structures when gratuitously transferring this property to the merged organizations or to branches created on their basis.
A similar provision is also envisaged for funds directed towards construction work, including the modernization and reconstruction of specialized agricultural capital structures, and the modernization and reconstruction of agricultural machinery and equipment for the merged organizations. The Vitebsk Regional Executive Committee is instructed to carry out the issuance of securities denominated in US dollars in the established manner by September 1, for the amount of debt of open joint-stock companies.
\"Приобретение Витебским облисполкомом активов осуществляется на основании разработанных открытыми акционерными обществами и присоединяемыми организациями бизнес-планов их развития на срок полного исполнения обязательств по кредитным договорам\", - уточняется в указе.
В свою очередь ОАО и присоединяемые организации, по активам которых произошла уступка требования Витебскому облисполкому, должны будут открыть в банках специальные счета для аккумулирования средств в белорусских рублях, на которые обязаны направлять деньги из выручки от реализации ими товаров (работ, услуг), имущественных прав после уплаты налогов, сборов (пошлин), других обязательных платежей в размере, необходимом для погашения задолженности перед областным бюджетом Витебской области в соответствии с заключенными договорами уступки требования. Персональная ответственность за реализацию норм указа возложена на председателя Витебского облисполкома. Документ вступает в силу после его официального опубликования.
of joint-stock companies and acquired organizations on the principal debt and unpaid interest on loans issued by Belагроprombank and Belarusbank for current operations, formed as of July 1, 2016, but not exceeding the amount equivalent to Br369.0472 million in all currencies at the official rate as of July 1, 2016. Subsequently, using the funds received, the executive committee will have to acquire the assets formed as of July 1 for loans and the corresponding rights.
"The acquisition of assets by the Vitebsk Regional Executive Committee is carried out on the basis of business plans for their development, developed by open joint-stock companies and acquired organizations, for the period of full fulfillment of obligations under loan agreements," the decree clarifies.
In turn, OJSCs and acquired organizations, whose assets have been assigned to the Vitebsk Regional Executive Committee, will have to open special accounts in banks for accumulating funds in Belarusian rubles. They are obliged to direct money from the revenue from the sale of goods (works, services), property rights after payment of taxes, duties (fees), and other mandatory payments in the amount necessary to repay the debt to the regional budget of the Vitebsk region in accordance with the concluded assignment agreements. Personal responsibility for the implementation of the decree's provisions is assigned to the chairman of the Vitebsk Regional Executive Committee. The document enters into force after its official publication.