DUSHANBE, September 18, 2012, Asia-Plus  -- Tajik President Emomali Rahmon yesterday signed the new tax code of Tajikistan.

Publication of the new tax code in the country’s state-run print media will bring it into force.

We will recall that the Majlisi Namoyandagon (Tajikistan’s lower chamber of parliament) endorsed the new edition of the country’s code on September 5.

A special commission was set up to work out the new Tax Code.  The commission members included representatives from the government, private sector, and public associations.  In all, the commission held 45 meetings.  To work out the new edition of the tax code, the commission members reportedly studied an experience of Georgia and took into consideration views of experts from international financial institutions.

The number of articles in the Tax Code of Tajikistan was reduced from 359 to 329 and the new Tax Code offers the considerable reduction in the number of types of taxes by half -- from 21 to 10.  Retail sales tax and highway use tax were abolished, while some types of taxes were unified.

For the purpose of supporting domestic producers the new tax code provides for exempting all the imported state-of-the-art equipment and technologies for production of commodities and services from paying value added tax (VAT) and customs duties.  Besides, domestic enterprises dealing with processing wool, leather and farm produce will be exempted from paying all types of taxes during the first five years since they are launched irrespective of forms of property.

The new tax code is expected to be introduced gradually from 2013 to 2017.