State-of-the-Nation Address 2019: Supporting SMEs
Initiatives such as exemptions from tax and auditing for three years for businesses will allow small and medium-sized enterprises to have an additional impetus for development, entrepreneurs opined.
Gaukhar Utelbayeva is one of the entrepreneurs. Her company has been producing individual men's clothing for over twelve years. Orders come from all over the country. 15 people work for her sewing workshop.
Gaukhar Utelbayeva said that when the moratorium on payment of income tax enters into force, she will use the money to create new jobs.
“We can expand our business scale. This is an investment into production. We pay large amounts of taxes. I can say that after saving all this money in three years, I can open at least two branches in Kazakhstan with attraction of new investments as well as purchase of new technologies and the equipment,” she said.
Corresponding amendments to the legislation should come into effect from 2020. In addition, the President’s decision on a three-year ban on inspections of small and medium-sized enterprises entities will also come into force. Analysts say that this will provide a powerful incentive for entrepreneurs.
“The business should be organized in the absence of state control. The business entities have a great responsibility to fairly approach the organization of their direct entrepreneurial activity,” Doctor of Juridical Science, Bakhtiyar Buleuliyev.
The President of Kazakhstan instructed the Government to allocate an additional 250 billion tenge for state support of small and medium-sized businesses as part of the new ‘Road Map’ program. There should be a note of introducing new forms with an emphasis on social aspects.