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Sooronbai Jeenbekov tells about measures in support of entrepreneurs

The 2nd meeting of the Committee on Development of Industry and Entrepreneurship with participation of the President of Kyrgyzstan takes place at Ala-Archa state residence today.

In his speech, the head of state told about decisions in support of entrepreneurship.

Sooronbai Jeenbekov noted that the value added tax for enterprises processing agricultural products was reduced by 80 percent.

«The property tax has been reduced by 50 percent for agricultural cooperatives, trade and logistics centers, machine and tractor stations. In addition, they were completely exempted from income tax. Production enterprises opened in rural areas are exempted from four types of taxes for five years,» Sooronbai Jeenbekov said.

Income tax has been reduced for light industry enterprises with more than 50 employees.

«If earlier each employee paid on average 1,500 soms, he or she will pay on average 400 soms now. Social deductions were reduced from 27 to 12 percent for the same enterprises. A number of tasks have been fulfilled to reduce administrative barriers,» Sooronbai Jeenbekov told.

He recalled that a temporary moratorium on check of business entities was imposed in the republic until 2021.