The Government has provided for more than 60 support measures to encourage entrepreneurial activity.
On May 4, Chairman of the Cabinet of Ministers of Kazakhstan Askar Mamin held a meeting to discuss the measures of state support for small and medium-sized businesses (SMEs). The agenda included such issues as tax breaks, concessional financing, loan payment deferral and access to government procurement, the press office of the Prime Minister of the Republic of Kazakhstan reported.
Mamin emphasised that the Government, NCE Atameken and regional councils of entrepreneurs remained focused on the challenges affecting business development. This work has resulted in bringing up to date the Economic Recovery and Growth Plan for 2021. This concept sets forth 60 additional measures to support SMEs.
These measures are aimed at reducing the burden on businesses. Entrepreneurs will have simplified tax administration and expanded access to concessional financing and government procurement. 2.5 trillion tenge have been allocated to SMEs to implement 47,000 projects. Payments of all payroll taxes will be frozen until July 1. This step saved SMEs 200 billion tenge.
Repayments on loans at the II level banking institutions have been suspended until July 1. These measures let SMEs hold 750 billion tenge. The Prime Minister instructed that the relevant government agencies implement the above Plan in a timely and proper manner.
