The Agency for Statistics under the President of Tajikistan, citing the Ministry of Finance (MoF), says the amended tax collection target for the first ten months of this year has been overfulfilled by 4.7 percent.
Over the reporting period, tax revenues to the state budget have amounted to about 21.2 billion somonis (equivalent to more than 1.9 billion US dollars).
Compared to the same period last year, the tax collection target has reportedly been overfulfilled by nearly 3.4 billion somonis, or 18.8 percent.
Compared to January-October last year, the collection of three basic taxes has increased: value added tax (VAT) by almost 1.4 billion somonis; income tax by 836.4 million somonis; and excise tax by 362.4 million somonis.
Over the first ten months of this year, the share of taxes in the revenues of the state budget has reportedly amounted to 62 percent.
According to the preliminary data from a MoF, the budget’s revenue part over the same ten-month period has stood at about 34.2 billion somonis, which is 2.8 percent more than the amended target for this period.
Meanwhile, the country’s authorities forecast tax collection to increase by 15 percent in 2024.
The share of taxes in the state budget’s revenue part are projected to stand at 26.3 billion somonis (equivalent to 2.4 billion US dollars) in 2024, which is 3.3 billion somonis more compared to the established tax revenues to the 2023 budget.
In particular, in the coming year it is planned to receive 18.9 billion somonis through internal taxes, which are collected by the Tax Committee under the Government of Tajikistan.
Revenues from customs duties are expected to stand at 8.4 billion somonis next year.
In accordance with approved indicators, tax revenues are expected to account for more than 61 percent of the 2024 budget’s revenue part.
Recall, revenues of the state budget for 2024 are projected to be 43 billion somonis (equivalent to 3.9 billion US dollars), which is 5.9 billion somonis or 15.9 percent more compared to the approved tax revenues to the 2023 budget.
