President announced new measures to support business and population

President announced new measures to support business and population

Reducing the social tax rate for small businesses and farmers, exemption from land and property taxes, postponing duties up to 120 days, expanding the coverage of benefits, lending to the construction and repair of individual housing in Tashkent and others. Shavkat Mirziyoyev announced new measures to support business and the population.

Support for entrepreneurs and the population in a pandemic will not be limited to previously provided benefits and will continue. This was announced by President Shavkat Mirziyoyev at a video conference on Wednesday, the press service of the head of state said.

First, the social tax rate for small businesses and farms will be reduced from 12% to 1% in May-July. As a result, more than 260 thousand enterprises and farms will be able to save a total of 650 billion soums and use them as capital and working capital.

Second, small businesses and individual entrepreneurs will be exempted from land and property taxes for the next three months. Thanks to this, more than 50 thousand entrepreneurs will save 300 billion soums, and their working capital will increase.

Also, according to the previous decision, in April-May more than 1000 entrepreneurs will be written off 80 billion soums of penalties accrued for late payment of land and property taxes.

Third, entrepreneurs will be allowed to pay customs duties with a delay of up to 120 days. This will allow them to save 540 billion soums and use these funds to develop their business.

Fourth, for further support of low-income families, another 200 billion soums will be allocated from the budget, which will make it possible to cover 70,000 families with benefits, or 10% more.

Fifth, if before the state partially covered interest payments on investment loans with a rate of up to 22%, now it will cover loans with a rate of up to 26%.

In addition, the amount of compensations for loans worth up to 500 billion soums (previously up to 10 billion soums) issued to entrepreneurs to replenish working capital will be increased from 5 to 10%.

Sixth, in Tashkent, the practice of lending to the population for the construction and repair of individual housing, introduced in the Andijan, Namangan and Fergana regions, will be applied. This will create about 10,000 seasonal jobs in the capital.

Seventh, in order to increase domestic demand for the products of domestic enterprises and thereby support them, state bodies will be given the right to carry out purchases planned for the III-IV quarters of this year, in the II quarter.

In general, more than 2 trillion soums ($ 197.3 million) will be allocated from the budget to further support the economy and citizens, the press service notes.

It is noted that with the observance of precautionary measures, 10 thousand of 14 thousand industrial enterprises, which suspended their activities for the period of quarantine, have earned. 178 thousand employees returned to their places.

The Ministry of Economic Development and Poverty Reduction has been instructed to carefully study the problems of 4,000 non-working industrial enterprises in cooperation with the khokims of the regions and to organize their activities by the end of May.

Source: gazeta.uz