New provisions adopted to improve the procedure for recognizing the indebtedness of organizations and natural persons as bad debt

With the intention of improving the mechanism for recognizing the indebtedness of organizations, individual entrepreneurs and natural persons as bad debt and its cancellation, the Edict of the President of the Republic of Belarus No. 207 of 30 April 2010 approves the Regulations on the order to recognize the indebtedness of organizations and natural persons for taxes, dues (duties), other mandatory payments to the budget, state designated budgetary and non-budgetary funds, indebtedness for fines and administrative penalties as bad debt. The Edict enters into force on the first day of the month following the month of its official publication, except for clauses 2 and 3 which enter into force from the date of the official publication of this Edict.