In September 2008, new rules on formation of prices in Belarus entered into force. The Ministry of Economics established maximum rates of wholesale and retail trade margins by which prices of goods charged by importers or domestic producers of goods can be increased to form the selling price. Regardless of the number of domestic interim sellers, the wholesale price for goods may exceed import prices by not more than 20%. The maximum retail margin amounts to 30% of importers’ or producers’ prices and includes all wholesale margins applied by domestic interim sellers. The new regulations provide for a list of specifi c expenses which may be accounted for during formation of price by an importer. Thus, when determining import prices an importer may take into account the contractual price of the goods, customs duties, transportation and other expenses connected with performance of mandatory import procedures and formalities. Import margins are included in the import price and may not exceed 30% of the above expenses. The Ministry of Economics left in place free market formation of prices with regard to some groups of goods, such as automobiles, clothes, cosmetics, telephones, and jewellery. At the end of September, domestic producers were allowed to form prices for these groups of goods freely. Previously, only importers and interim sellers could do so.

      Additional information: Vasili Valazhynets e-mail: vasili.valazhynets@sorainen.com