Over the first eleven months of this year, Tajikistan’s national budget has received 165 million U.S. dollars less than it was originally planned due to failure to fulfill plan on collection of some taxes. This tax shortfall amounts to 7.2 percent of the planned revenues, according to the Ministry of Finance (MoF).
“In January-November this year, a total volume of the country’s budget has amounted to 20.568 billion somoni, which is 92.8 percent of the detailed plan,” an official source at a MoF told Asia-Plus in an interview.
“Over the report period, the Tax Committee has failed to fulfill plans on collection of income tax, social tax, value added tax (VAT), capital gains tax, special tax treatment and domestic excise taxes,” the source said.
According to him, the share of tax revenues in a total volume of the budget revenues has amounted to 70 percent over the same eleven-month period.
Recall, the government plans to increase tax collection target by 10 percent in 2020-2021. Thus, the tax collection target for 2020 has been determined at 17.9 billion somoni, which is 1.6 billion somoni more than the tax collection target for this year.
The authorities plan to increase tax revenues due to increasing collection of VAT (512 million somoni more compared to this year), capital gains tax (232 million somoni more compared to this year) and income tax (230 million somoni more compared to this year).
As it had been reported earlier, Tajik tax authorities intend to raise the state duty rate for entrepreneurs and collect the rent from exporters of precious metals.
A letter sent by the Tax Committee under the Government of Tajikistan to relevant ministries and agency in late October, in particular, notes that an export rent has been established in the country. This rent will be collected from exporters of precious metals, minerals, metal concentrates and mining chemical feedstock. Besides, it is proposed to raise the land tax rate.
Moreover, the Tax Committee proposes to raise the rates of state duty paid by entrepreneurs for doing business and fee for permit for working in the field of telecommunications as well as the rate of fine for illegal entrepreneurial activity.
The tax authorities also propose to annul individual tax benefits that have been provide in recent years.
At the same time, the tax authorities propose to reduce the social tax rate from current 25 percent to 20 percent.
