Micro, small business in Kazakhstan to be exempt from taxes

Business Materials 2 September 2019 12:49 (UTC +04:00)

Baku, Azerbaijan, September 2

By Nargiz Sadikhova - Trend:

The President of Kazakhstan Kassym-Jomart Tokayev has mandated to temporarily exempt local ventures of micro and small business from paying taxes related to main activities, Trend reports with reference to the press office of the president.

He made the statement within the framework of his first state of the nation address.

Thus, as stated by the press office, the president mandated to develop a legal basis for freeing micro and small businesses from paying taxes for three years.

“As of January 2020, my decision will enter into force about a three year ban on checks of micro and small businesses,” Tokayev said.

Within the framework of Kazakhstan’s entrepreneurship development a special state DAMU fund has been established in 1997, the mission of which is to provide financial and consulting help to entrepreneurship.

Furthermore, the entrepreneurship in Kazakhstan is being supported by regional entrepreneurship departments. The special program ‘Business Roadmap 202’ has been developed in 2011, which is to provide service support to ventures of small entrepreneurship. The main operator of the program is the DAMU fund.


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