ARTICLE
22 February 2023

Construction Material Prices Freeze Again

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GRATA International

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From July 2022, the Ministry of Architecture and Construction of Belarus has imposed restrictions on the formation of selling prices of goods used in construction and production of such materials.
Belarus Real Estate and Construction
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From July 2022, the Ministry of Architecture and Construction of Belarus has imposed restrictions on the formation of selling prices of goods used in construction and production of such materials. The resolution was temporary and expired on January 1, 2023.

Nevertheless, restrictions on the maximum permissible profitability rate and the maximum permissible price markup still need to be maintained. These rates and mark-ups remained the same.

As a reminder, importers of timber and lumber intended for dwellings construction in rural areas may provide for a mark-up to the contract price and import costs of up to 5%, other importers up to 15%.

Importers set selling prices based on the contract prices, customs duties and fees, cargo insurance costs, transportation costs for the purchase of goods, interest on loans/guarantees. Contract prices set in foreign currency shall be recalculated by the importer at the official rate of the National Bank of Belarus as of the date of setting the selling price.

Selling prices for goods are set without VAT, but other compulsory payments must be included in the amounts stipulated by legislation.

The current Instruction on the procedure of setting and applying regulated prices for goods is added to the rule requiring producers and traders to apply selling prices after providing information on the price list to the information system for monitoring prices for construction materials of the State Construction Portal.

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