YNP. YOUNG NIGERIANS PARTY.

THE PROTAGONISM OF THE SMEs.
BALANCE. (YNP) YOUNG NIGERIANS PARTY.


-We GIVE TOGETHER PROGRAM 2019
As from 2019, the Governments of the Young Nigerians Party will focus the fundamental axis of its economic policy in sustained and stable growth. In order to achieve this objective, it will propose to make the SME an engine of our economic growth and our creation of wealth and a
fundamental instrument for channeling entrepreneurial spirit.
SMEs will play a crucial role in our country Nigeria as job generators. In this period, 420,000 SMEs will be created, increasing their total number of companies.
In 4 years, our SMEs will create more than 70% of the new jobs.
We will create a favorable financial framework for SMEs and self-employed workers. In particular, some of the main actions will be the following:
We will favor a significant reduction in interest rates, which will enable the reduction of more than 35% of the weight of financial expenses in the income statements of SMEs and will have an immediate reflection on the percentage of delinquent loans.
We will grant more than 7.570.332 million naira in loans through the SME line, as from 2019, with an induced investment of 13.458.368 million naira and the creation of 420.592 jobs.
We will establish a microcredit program for women entrepreneurs, through the National Innovation Company.
We will simplify the procedures to create companies, approve the New Company Law, which will allow to create them in 72 hours and with a Unique document. This Law will also reduce financial barriers for creation of new SMEs, establish the payment deferred taxes during the first two years.
We will improve the special regime of self-employed workers, in matters as important for this group as the access to protective action for contingencies of work accidents and diseases professionals; the extension of temporary disability coverage and the
inclusion of the benefit for permanent, gifted or qualified disability for workers over 45 years of age.
We will simplify the legal and administrative regulation, eliminate bureaucratic barriers for the creation of companies, reduce the administrative burden and facilitate the creation of employment. 20 Single Business Windows will be open, which will allow the creation of more than 17,000 SMEs and generally go around 20,000 new jobs.
As from 2019, in addition to two reductions of the Personal Income Tax (PIT), we will improve the taxation of SMEs in all tax figures: In the Personal Income Tax (PIT), we are going to reform the objective estimation system by modules, giving priority to the most entrepreneurial entrepreneur.
In the Corporate Tax, we will increase the incentives for internationalization and R + D + i, betting on the accelerated depreciation of the immobilize and introduce deductions for reinvestment of capital gains.
In the Wealth Tax, we will eliminate the taxation of corporate assets.
In the Inheritance and Donations Tax, we will expand the reductions in the tax base to facilitate the transmission of companies.
In the Tax on Economic Activities we will eliminate the taxation of almost 3 million SMEs.
We are going to create an account-saving company that allows our future entrepreneurs to anticipate funds for the creation of companies, reduce their tax bill in the Personal Income Tax (PIT).
We will improve the commercial, civil and tax area of ​​family businesses, to facilitate financing and the transfer of companies.
Only in the first three years we will support more than 13,000 projects to promote the consolidation and competitiveness of more than 120,000 SMEs, introducing them in new technologies.