Two-year "tax holidays" offered to businesspersons in Dagestan

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Makhachkala, October 30, 2015. In Dagestan, the local Legislative Assembly in the first reading adopted a bill that sets a two-year "tax holidays" for the local entrepreneurs since January 1, 2016. According to the draft, within two years, the rate of taxation will make 0%.

Thus, the decision has been adopted for the individual entrepreneurs, who operate under the simplified tax scheme and are engaged in businesses in the industrial, social and scientific spheres.

"The adoption of this bill will help to stimulate the economic activity among the small and medium-sized businesses, to preserve existing and create new jobs, and to legalize the business entrepreneurs engaged in entrepreneurial activity without tax registration" - Dagestan minister of economy Rayudin Yusufov commented.

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