Authorities of Bashkortostan are considering the possibility of creating an "entrepreneurial cashback", the republic's Ministry of Economic Development and Investment Policy reported.

"Support for small and medium-sized enterprises in the Republic of Bashkortostan is an extremely topical issue on the working agenda of the RB Government. It is important today to mobilize funds for development of domestic business - return of taxes paid by them with observation of social obligations by entrepreneurs. On one hand, this may encourage entrepreneurs to come out of the shadow and, on the other hand, keep them employed," said Rustam Muratov, head of the ministry.

The ministry explained that the idea behind the mechanism is to reorient state support for small- and medium-sized businesses in the form of subsidies equal to the amount of taxes paid by them in the previous fiscal year to the republic's budget.

According to the Uniform register of subjects of small and average business by June 10, 2021, in republic there are more than 126 thousand subjects SME. Tax proceeds from subjects of small business for 5 months of current year have made 5,64 billion rubles, that is 43 % higher, than for the similar period of last year. More than 100 kinds of support measures are available in the republic which can be used by the operating and beginning businessmen.

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Author: Karina Kamalova