Lukashenka frees Gutseriyev's Slavkali from tax penalties

The company of a Russian tycoon has been relieved of tax penalties.

Lukashenka signed decree No. 370 of July 24, 2014, that forgives tax violations of Slavkali, which was created by Russian oligarch Mikhail Gutserieyv, Lukashenka's big friend, to develop potash deposits, AFN reports.

The decree concerns the missed deadline for paying income tax for foreign companies working in Belarus without permanent representation.

Under the decree, Slavkali, which was opened in Belarus, paid incomes from debts obligations (interests on loans and credits) to Gutserieyv's British offshore company GCM Global Energy PLC.

The presidential decree changes the terms of fulfillment of tax liabilities for just one company.

“The date of creation of obligations in 2012-2013 to pay taxes on incomes from debt obligations of foreign companies working without permanent representation in the Republic of Belarus in relation to GCM GLOBAL ENERGY PLC (the UK) shall be considered the date of the actual payment of incomes from debt obligations […] by foreign limited company Slavkali to GCM GLOBAL ENERGY PLC,” the decree reads.

The decree if July 24 2014, came into effect on January 1, 2012.

The document was signed to “create additional conditions for the construction of a mining and processing complex using the Nezhynski (eastern), Smalouski and Lubanski areas of the Starobin deposit of potassium”.