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State Commission considers additional measures to support SMEs

Wednesday, 07 April 2021, 16:19:22

Prime Minister Askar Mamin chaired a meeting of the State Commission on Restoring Economic Growth under the President of the Republic of Kazakhstan. Measures to fulfill the instructions of the Head of State Kassym-Jomart Tokayev given at the meeting on April 1, 2021, were considered at the meeting.

Minister of National Economy Aset Irgaliyev, Minister of Finance Yerulan Zhamaubayev, Chair of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market Madina Abylkassymova, Chair of the Board of NCE Atameken Ablay Myrzakhmetov, First Deputy Prime Minister Alikhan Smailov reported on additional measures to support small and medium-sized businesses in the affected industries.

Since 2020, in order to ensure the recovery dynamics in the national economy, several packages of anti-crisis measures have been adopted, providing support for the business sector, promoting employment, unlocking the potential of the agro-industrial complex, developing housing and utilities, transport, social and trade infrastructure, and ensuring accelerated digitalization.

In March 2021, based on the results of a survey of entrepreneurs, a new package of 24 measures was approved in 4 areas: reducing the burden on business, expanding access to finance, demand markets and high-quality human resources.

In pursuance of the instructions of the Head of State, an additional package of measures to stimulate business activity was formed, which includes the introduction from April 1 to July 1, 2021, of a deferral for the payment of all taxes and payments from the wage fund (118 sectors), a deferral for the payment of bank loans and microcredits by SMEs in the affected industries (346 sectors), as well as the suspension of enforcement measures for tax and customs debts.

In addition, a decision was made to postpone the implementation of a pilot project for issuing accompanying invoices and electronic invoices for goods from July 1 to Oct. 1, 2021.

The period of subsidizing interest rates on loans to SMEs in the affected sectors of the economy (93) will be extended until July 1, 2021.

The prime minister instructed until April 12, 2021, to submit to the Government an appropriate package of legislative amendments on tax incentives for business.

“All legislative initiatives should be implemented before the end of the current session of the Parliament,” Mamin said.


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