Reporting of HTP Resident Companies in Belarus 

Reporting plays a key role in the transparency of companies’ activities and allows you to assess their financial condition and management effectiveness. Let’s consider the basic reporting requirements for High-Tech Park resident companies and the specifics of submitting such reports.

Mandatory audit of High-Tech Park residents

Residents of the Hi-Tech Park must engage an auditor annually for a mandatory audit of their annual accounting and financial statements.

A mandatory audit must be conducted before June 30 of the year following the reporting year.

During the mandatory audit, the auditor evaluates, among other things, the correctness of the calculation and payment of deductions to the administration of the Hi-Tech Park.

To conduct a mandatory audit, a resident company of the Park agrees with an audit company or an auditor-an individual entrepreneur. 

Conducting an annual mandatory audit helps company residents of the Hi-Tech Park identify and correct possible violations in accounting and financial accounting and follow the auditor’s recommendations to minimize the risk of their occurrence in the future. This significantly increases the reliability of the data presented in the reports, which are the basis for making critical strategic decisions, and also reduces the likelihood of possible fines and claims from regulatory authorities. The positive conclusion of the auditors also helps to increase confidence in the reporting from potential investors and financial institutions.

Residents submit an audit report to the Secretariat of the Supervisory Board of the Hi-Tech Park no later than July 1 of the year following the reporting year. 

Information on the calculation and transfers of the amounts of deductions of the HTP administration for the year

Residents of the Hi-Tech Park must transfer 1% of the proceeds from their activities as residents and from the alienation of tokens to the Secretariat of the Supervisory Board of the Hi-Tech Park every quarter—no later than the 20th day of the month following the reporting quarter.

Starting in 2023 (with mandatory audit reporting for 2022), resident companies of the Hi-Tech Park must fill out and attach to the audit report Information on the calculation and transfers of the deduction amounts to the HTP administration for the year in accordance with the form established by the Ministry of Finance.

Quarterly reporting of Hi-Tech Park residents

In 2024, resident companies of the Hi-Tech Park must submit reports to the Park Secretariat every quarter using the reporting form approved by the Secretariat. Even when the company does not have information to include in the report, it must be submitted.

• The report is submitted no later than the 30th day of the month following the reporting quarter. When the 30th day falls on a weekend or holiday, the report can be sent on the next business day.
• The report is compiled on an accrual basis from the beginning of the year or from the moment the company registers as a resident of the Hi-Tech Park if it has not been a resident for an entire year.
• The report includes data on the residents of the Hi-Tech Park, including its divisions located in Belarus.
• The report is based on the accounting and personnel documents of the Park’s resident company and submitted to the Hi-Tech Park Secretariat in electronic Excel format.

The report contains the following sections:

1. About the company’s leading performance indicators.
   In that section, in particular, data on revenue and income from activities conducted by the company, income from the sale of tokens, as well as amounts that do not include in revenue (income) for deductions to the Secretariat of the Supervisory Board in the amount of 1%, the amount of such deductions.
2. About the number of employees and earnings.
   This section includes, in particular, the number of employees, employed and dismissed employees, and the salary fund.
3. The adjustment of the deduction amounts to the Secretariat of the Supervisory Board of the Hi-Tech Park.
   This section is filled in if errors have been found in calculating contributions to the Secretariat for 1% of revenue over the past quarters.
    

The report is signed by the company head or the person authorized by the head to compile and submit it, as well as by the executor who directly compiles it.

Annual report to the Secretariat of the Supervisory Board of the Hi-Tech Park

By February 1 of the year following the reporting year, the Hi-Tech Park resident companies must submit reports on their activities to the Park Secretariat. The report is provided in electronic form using the departmental document management system in a form approved for Park residents. 

Information on state reporting at the request of the Park Secretariat

At the request of the Secretariat, the resident company of the Hi-Tech Park must provide copies of state statistical reports, tax returns and calculations.

To simplify the provision of copies, the Secretariat can receive copies of state reports from government agencies with the written consent of the park residents.

Information about accounts abroad

Every quarter, resident companies of the hi-tech Park need to inform the Secretariat and the tax inspectorate at the company’s place of registration about the movement of money through electronic wallets and foreign bank accounts.

How to submit reports to the Secretariat

The schedule for submitting reports is posted in the personal accounts of residents of the Hi-Tech Park on the Park’s website.

HTP residents provide all reporting information electronically through the Interdepartmental Document Management System (IAS). To connect to the SMDO, contact the RUE “National Center for Electronic Services” (NCEU). They issue an electronic signature and keys there. Reports are provided to the address in the SMDO: “Hi-Tech Park. Reports”.