DUSHANBE, December 28, 2011, Asia-Plus -- Under amendments made to the country’s tax and customs codes, equipment and production technologies delivered to the country on a lease basis are exempted from the value added tax (VAT) and customs duties.
In a speech delivered to the Majlisi Namoyandagon (Tajikistan’s lower chamber of parliament), the Deputy Finance Minister, Jamshed Norinov, noted on December 28 that that initiative of the government will promote improvement of the business environment and investment climate in the country. “Amendments proposed to the tax and customs codes are aimed at supporting domestic producer to modernize production means and equipment, create new jobs and strengthen the export capacity of the country,” Norinov noted.
According to him, the amendments will affect the revenue part of the national budget inconsiderably because “only 3.9 million U.S. dollars worth of equipment has been delivered to the country on the lease basis this year.”
These amendments will also promote further development of the leasing industry in the country, the deputy minister noted.
“Only one leasing company, Tajikagroleasing, now operate in the country and endorsement of the amendments proposed to the tax and customs codes will promote creation of new leasing companies in the country,” Norinov added.