Kazakh government approves anti-crisis program to support domestic production and business

AKIPRESS.COM - The Kazakh government has approved a package of urgent measures to support business and to ensure stability at the labor market, which includes increased access to finances, provision of guarantees, tax incentives, cut of business checks and employment facilitation.
Crediting and list of priority goods will be extended to 1 trillion tenge as part of the Economy of Simple Things Program. The upper credit limit will be extended and restrictions will be abolished for economic sectors, mechanisms will be simplified.
Shopping centers, movie theaters, exhibition, sport facilities will be exempt from property tax for a year, the deadline for the tax reporting for the third quarter will be postponed. Sole proprietors will be exempt from taxes.
New crediting mechanism will be introduced in the agroindustrial sector. Agricultural producers will be exempt from VAT for import of biological assets, including cattle and pedigree chickens. Almost 7,000 farmers will be exempt from agricultural land tax.
Some 300 billion tenge will be allocated for repair of infrastructure, social facilities, local roads with engagement of locals into those projects.
Banks will not charge penalties and fines for overdue loan repayments caused by declaration of the emergency situation in the country.
All banks should defer loan repayments for businesses facing deterioration of financial situation, Prime Minister Askar Mamin said.
New measures will create more than 200,000 new work places in the country.