The free economic zone Grodnoinvest is situated in the north-western part of Belarus in the city of Grodno in immediate proximity to the borders of the European Union (15 km to the border of the Republic of Poland, 30 km to the border of the Lithuanian Republic) and CIS countries. The total area occupied by FEZ “Grodnoinvest” constitutes 1046 hectares. In the territory of the free economic zone there is a special legal treatment allowing to considerably reduce tax load. FEZ “Grodnoinvest” residents are exempted from a range of taxes, including a 5-year exemption from a profits tax from the moment of its announcement. Besides, residents do not pay customs duties when importing machinery and materials and exporting their production.
References
Grodno FEZ Wikipedia(Text) CC BY-SA