The beGateway payment gateway developer officially joined Hi-Tech Park Belarus on October 3, 2019.
Being a resident of the Republic of Belarus and having worked with foreign customers for 14 years, HTP residency is a logical step for the company to strengthen and develop its business.
What is the Hi-Tech Park and why did our company join it? Benefits.
Hi-Tech Park Belarus (HTP) is a special economic zone with unique tax and legal treatment for the development of IT business. Park residents are exempt from all corporate taxes, value added tax and income tax. The individual income tax for HTP resident companies employees is 9 % and it is not included in the total annual income. HTP residents can also pay mandatory insurance premiums at a reduced rate.
Alexander Mihailovski, founder and Chief Business Development Officer of eComCharge, noted that the funds that used to be spent on taxes would now be used to hire new employees to the eComCharge IT Department which has grown by 50%. As a result, the new functionality of the beGateway platform is just around the corner and will be updated throughout the year.
In addition to tax benefits, the company has also received other rights that greatly facilitate contractual relations between partners and customers. For example, as the founder of eComCharge notes, the company is now able to use electronic invoices from foreign companies, such as Amazon, as the primary accounting document. As well as to sign electronic contracts with customers without the obligatory exchange of original documents between the parties, as it used to be before joining HTP Belarus. Service delivery reports (primary accounting documents in Belarus) can also be signed unilaterally, no client’s signature required.
These and other similar benefits simplify relationship with foreign companies and allow eComCharge to focus on customer relations and the development of products for the e-commerce market, rather than engage in paperwork.
For the full text of the press release click here: https://ecomcharge.com/ecomcharge-joins-hi-tech-park-belarus/