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Taxes lowered to support entrepreneurs in EAO
The authorities of the Jewish Autonomy have reduced tax rates in the region. The benefits will affect entrepreneurs who work on a simplified tax system.
According to the press service of the government of the EAO, the Legislative Assembly of the region approved new tax rates for two categories of entrepreneurs. The rate for those who work under the simplified taxation system and uses income reduced by the amount of expenses to calculate taxes is reduced to 12%. In addition, they reduced the rate to 5% for businessmen working under the simplified taxation system, but calculating the amount of taxes on the amount of all income.
The new parameters for taxation will affect most sectors of the economy, according to the EAO government. So the authorities plan to maintain employment in the region. The measures will be valid until the end of 2020.