Bulgarian president grants tax exemption to national broadcaster
October 28th, 2009 - 14:07 UTC
by Andy Sennitt.

Belarus President Alyaksandr Lukashenka has issued a presidential edict exempting the National State Television and Radio Company from paying profit and value-added taxes for the period from October 1, 2009 to December 31, 2012. The exemption would not apply to value-added tax on imported goods, according to the edict.

The edict requires the company, which runs Channel One and another television channel, Lad, to spend the money saved thanks to the tax exemption on the development of its facilities, purchase of television rights to shows and creation of its own productions.

The company will be required to return the money to the budget if it spends it for other purposes. The company’s chairperson bears personal responsibility for use of the money, while the State Control Committee will oversee its spending.