Tajikistan guarantees a full legal protection of investments made by entrepreneurs and companies from neighboring Uzbekistan. Tajikistan’s lower house (Majlisi Namoyandagon) of parliament (Majlisi Oli) has ratified a government-to-government agreement between Tajikistan and Uzbekistan on encouragement and mutual protection of investments.
A regular sitting of the Majlisi Namoyandagon, presided over by it head, Shukurjon Zuhurov, took place on May 4.
Presenting the agreement to lawmakers, Farrukh Hamralizoda, the head of the State Committee on Investments and State-owned Property Management (GosKomInvest), noted that under this agreement, the parties undertake to encourage investments each other and create favorable conditions for them in accordance with their legislation.
“The parties also guarantee full protection of investments,” said Hamralizoda. “Besides, the agreement provides free transfer of investors’ funds.”
The agreement expires in ten years, and thereafter, the term of this agreement may be automatically extended for additional ten years.
Today, Majlisi Namoyandagon deputies also unanimously voted for ratifying a government-to-government agreement between Tajikistan and Uzbekistan on the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital.
Presenting the agreement to lawmakers, the Minister of Finance, Fayziddin Qahhorzoda, said the agreement was aimed at preventing double taxation of incomes and property.
Recall, both agreements were signed in Dushanbe on March 9, 2018 during Uzbek president’s state visit to Tajikistan.
The Majlisi Namoyandagon also today endorsed amendments made to the country’s law on investments by a group of deputies of the Majlisi Namoyandagon without discussions.
