Bashkiria's parliamentarians introduced "tax holiday" for entrepreneurs

UFA, 23 April 2015. /Bashinform News Agency, Galiya Nabieva/. Individual entrepreneurs of Bashkortostan will receive "tax holidays". Benefits will affect small and medium-sized businesses using simplified or patent tax system. The corresponding bill was passed in general at the plenary session of the State Assembly - Kurultay of the Republic of Bashkortostan on Thursday, April 23. The legislative initiative was introduced on behalf of the Head of the Republic Rustem Khamitov.

This is one of the measures aimed at supporting small businesses, as part of an integrated plan for sustainable economic development and social stability in the republic for 2015-2017.

Tax incentives will affect small and medium-sized businesses, operating on 23 types of the patent system of taxation and 21 types of activity under the simplified system.

The Chairwoman of the State Assembly Committee on Budget, Tax, Investment Policy and Territorial Development Ruzaliya Khismatullina told that the system of tax holidays would operate until 2020. The Republican Law will come into force for individual entrepreneurs operating on the patent system, since the first decade of May, and for those working under the simplified system - from January 1, next year.

The Head of the Committee explained that the republic refused from restrictions related to the amount of income received by individual entrepreneurs.

According to the Ministry of Finance of Bashkiria, currently about 90 thousand entrepreneurs registered in the republic, one third of them use the simplified taxation system.