On the last Thursday, January 5, the Production, Micro and Small Business and Cooperatives Commission (MYPE) of Congress approved four opinions and among them the proposal “Young Entrepreneur Law”, which with 13 votes in favor and unanimously was only waiting to be debated in plenary session of Congress. The objective of the project is to promote the business growth of young people between the ages of 18 and 29.
Likewise, the companies constituted by the beneficiaries of this regulation must be duly registered in the National Superintendence of Public Registries (Sunarp) to benefit from the regulation.
“The purpose of this law is to establish the legal framework that promotes the creation of companies constituted by young people, in order to generate sources of work that contribute successfully to the development of the national economy within a social market economy,” reads the beginning of the official text.
How would this law benefit young entrepreneurs?
This bill seeks to promote the creation and development of companies by the population under 30 years of age, offering two great advantages:
- The anticipated refund of the General Sales Tax for export operations of goods and services.
- Exemption from payment of Income Tax for two years, as long as the profits are reinvested in the company.
Source: Larepublica
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