Cybersport to become full-fledged sport in Belarus?

Cybersport to become full-fledged sport in Belarus?

Minsk is hosting one of the largest IT conferences in the CIS. The current forum DevGAMM is aimed at specialists of the gaming industry. Besides game design itself, the prospects and the aspects of conducting IT business are being discussed. Very soon the High-Tech Park Decree will come into force in Belarus and great changes lie ahead.

One of the partners of the juridical company “Aleinikov and Partners” Dmitry Matveev has commented on what changes are going to take place in Belarus in the IT sector.

First it is necessary to say that with the introduction of the Decree, cybersport will be legalized in Belarus. It will certainly develop the range of activities residents of the High-tech Park can take up. What is more, a separate cybersport sector will appear. It is quite possible that companies which teach and train cybersport commands will appear. It is also expected that streaming of cybersport competitions and games will be established. Dmitry Matveev emphasized that Belarusian variants of Twitch and Steam will then have a right to exists.

The work of IT specialists will be facilitated; there won’t be a necessity to sign bilateral service agreements. What is more, unnecessary papers will be eliminated, everything will be done via the computer. The Decree will give a perfect possibility of dematerialized circulation for the High-Tech Park residents. No one will have to sign any documents, everything will be done electronically.

Non-Compete Agreement institute will appear. It will allow making agreements of noncompetition with your employees and it will allow to sign worthy contracts with large and prominent companies.

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One of the problems of the IT business today is advertising for the promotion of the products an IT company produces. Today companies pay 13% of the withholding tax and VAT of 20% for advertising. Nevertheless, the average profit of such companies is somewhere near 30%. As a result, this model doesn’t bring any vivid advantages. However, if IT companies stop paying withholding taxes and VAT, it will positively influence the advertising of their products.

There are several opinions on the noncompetition agreements, not paying VAT and withholding tax, and electronic signing documents. But only time will show the advantages of the new Decree and how it will influence Belarusian It sector as a whole.