Simplified procedure for transferring property to agricultural organizations
Alexander Lukashenka signed decree No. 129 "On simplifying the procedure for transferring property to agricultural organizations" on April 16, Belta reports .
Illustrative photo. Photo: "Zarya"
The document stipulates that legal entities have the right to provide movable property to agricultural organizations for free use without compensation for accrued depreciation, maintenance, operation, capital, and current repair costs of this property. They can also write off the amount of the residual value of the property transferred free of charge and the costs associated with its transfer, at the expense of additional capital and retained earnings (uncovered loss).
According to the decree, decisions on providing gratuitous (sponsorship) assistance to agricultural organizations can be made by state bodies and organizations without obtaining appropriate consent, and by business entities – regardless of their financial result in the event of providing such assistance in the form of movable property.
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