Government • 21 May, 2020

Main goal of implementing Integrated Plan is to ensure employment of people

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At a briefing in the government of Kazakhstan, Minister of National Economy Ruslan Dalenov spoke about the measures taken to implement the Integrated Plan by the end of 2020.

According to the minister, the Integrated Plan includes operational measures to support sectors of the economy, which covers all agreed measures by sector. These are manufacturing, mining, metallurgy and agro-industrial complexes, the construction industry, civil aviation, logistics, tourism, SMEs and the services sector, as well as related industries. For each industry, new measures have been worked out to quickly resolve urgent issues.

“All measures are important, all sectors were heard, and concrete measures for each sector were included in the plan. These are operational measures until the end of the year that I consider most important are lending issues, especially lending to small and micro-businesses, resolving collateral issues, supporting a Kazakhstan producer, tax incentives, and simplifying procedures. The most important goal is to provide employment,” said Dalenov.

According to him, for the first time a new direction of micro and small business will be opened. These are convenience stores, hairdressers, small factories, bakeries, service stations.

“They will receive support in the form of loans at a rate of 6%. If working capital is needed, then the loan will be 5 million tenge, if for production needs up to 20 million tenge. Moreover, if there is no collateral, then the state will provide guarantees in the form of 85% of the loan amount,” the minister explained.

In addition, Dalenov spoke about the terms for tax exemption after the end of the state of emergency in the country.

“The state of emergency has ended, but deferrals of tax exemption will continue to be valid for the periods specified in the previous decisions,” said Dalenov.

For example, tax deferrals for small and medium-sized businesses will continue to be valid until June 1, non-enforcement of penalties, desk notifications of tax authorities will continue until June 1. Until Oct. 1 – exemption from taxes and payments from the Payroll Fund for trade and food products, catering and shopping centers, hairdressers, etc.

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