Government considers measures to support SMEs

At the government session chaired by Prime Minister Askar Mamin, measures to support small and medium-sized businesses were considered. Minister of National Economy Aset Irgaliyev, Chair of the Atameken NCE Ablay Myrzakhmetov, Chair of the Board of the Damu Entrepreneurship Development Fund Gaukhar Buribayeva presented their reports.

“The development of small and medium-sized businesses is one of the important factors in ensuring the sustainability of the economy. A lot of constructive work is being done to create the most favorable conditions for dynamic business development. At the same time, the pandemic has made its own adjustments, small and medium-sized businesses have suffered from restrictions,” Mamin said.

The Prime Minister noted that the Government, together with NCE Atameken and regional councils of entrepreneurs, on a regular basis consider and make appropriate decisions on the most exciting business issues.

As a result of the work carried out, the Comprehensive Plan for the Recovery of Economic Growth for 2021 was updated, which provides for more than 60 additional measures to support SMEs whose activities are affected by restrictions.

First of all, these measures relate to reducing the burden on business in terms of a number of tax breaks and facilitating tax administration, expanding access to concessional financing, simplifying access to public procurement, as well as deregulating entrepreneurial activity.

This year, as part of expanding the access of SMEs to financing, more than 2.5 trillion tenge of concessional lending will be provided, covering about 47 thousand projects.

Work was carried out to reduce the time for consideration of business applications for entrepreneurship support programs from 21 to 5 working days.

The digitalization of public services in the framework of subsidizing and guaranteeing loans has increased to 97% this year.

From April 1 to July 1, 2021, a deferral was introduced for the payment of all taxes from the wage bill for SMEs. This allowed the business to save about 200 billion tenge.

The forced collection of tax and customs debts of SMEs has been suspended until July 1, 2021. This will help the business to free up 279 billion tenge for working capital.

Measures were taken to defer payments on loans in second-tier banks until July 1, 2021.The volume of deferred payments will amount to 750 billion tenge.

“Now our task is to help entrepreneurs develop their business. The measures taken will make it possible to form up to 0.8 percentage points in the structure of economic growth this year,” Mamin said.

The Head of Government instructed to ensure the timely implementation of the updated Comprehensive Plan for the Recovery of Economic Growth, the adoption of a package of legislative amendments on tax incentives for business and the conduct of relevant work in the Parliament by June 1, 2021.

State bodies, akimats, the Damu Fund, together with NCE Atameken, were instructed to ensure, as soon as possible, consideration of applications from businesses for all types of support.

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