30 november 2023 — 14:00
To receive foreign currency in cash to resident legal entities during export-related operations is extended until December 31, 2024. This is provided for by the joint resolution of the Council of Ministers and the National Bank No. 823/23 of November 28, which is officially published on the National Legal Internet Portal.
As previously explained in the National Bank, Resolution No. 363/13 was adopted to simplify the procedure for conducting foreign trade operations related to exports in the conditions of economic sanctions.
The ministry said that foreign currency credited to a foreign bank account must be transferred by a resident to his account in a Belarusian bank within 5 working days from the date of crediting. The cash currency imported or received in the Republic of Belarus must be credited to the resident's account in a Belarusian bank no later than the working day following the day of its receipt on the territory (importation into the territory) of the Republic of Belarus.
In addition, the National Bank reminded residents to comply with the terms of crediting foreign currency to their accounts opened in Belarusian banks, determined by them based on the terms of export contracts (repatriation terms).
Recall that the import of foreign currency in cash to the Republic of Belarus is carried out in compliance with the requirements of customs legislation.
The deposit of foreign currency in cash to residents' accounts in banks of the Republic of Belarus is carried out in accordance with the procedure established by banking legislation. At the same time, residents are required to submit documents and information for banks to implement measures provided for by law to prevent the legalization of proceeds from crime, the financing of terrorist activities and the financing of the proliferation of weapons of mass destruction. If a participant in a financial transaction is a non-resident who deposits foreign currency in cash to a resident's bank account, then in this case the non-resident submits documents and information to the bank in accordance with part three of Article 8 of the Law of the Republic of Belarus "On Measures to prevent the legalization of proceeds from crime, the financing of terrorist activities and the financing of the proliferation of weapons of mass destruction."
Initially, it was assumed that the measure would be valid until December 31, 2023, but the Government of Belarus decided to extend its validity until the end of 2024.