A number of Mogilev Region farms will be exempt from import duties and VAT on machinery that was imported in 2007.
Such preferences will be granted to Mogilev Region farms in accordance with presidential decree No.566 aimed at the reduction of production costs in agriculture.
The total number of farms that will enjoy taxation preferences is 22. They imported 33 pieces of agricultural machinery in 2007 (EUR 9.156 million). The farms will be exempt from import duties and VAT provided they reach their production and profitability targets this year.