Tajikistan’s authorities project tax revenues to the state budget to increase by 14.3 percent next year.
According to data from the Ministry of Finance (MoF), the tax revenues to the 2024 state budget are projected to stand at 26.3 billion somonis (equivalent to 2.4 billion US dollars), which is 3.3 billion more than this year’s tax revenues.
The tax revenues for the next year are projected to include 18.9 billion somonis of internal taxes and 8.4 billion of customs duties.
In accordance with the approved indicators, the tax revenues are expected to account for 61 percent of the 2024 budget.
Recall, the 2024 budget revenues are projected to be 43 billion somonis (5.9 billion somonis or 15.9 percent more than in 2023) and its expenditures are projected to stand at 44.1 billion somonis (6 billion somonis more than last year).
Meanwhile, graduate of the CABAR.asia school of analytics, Alisher Gardonshoyev, notes that against the backcloth of rapid changes in the global economy and the growing competition in the global market, Tajikistan is moving towards tax reform in order to achieve several important strategic goals: increasing household incomes and reducing poverty; stimulating private sector development; increasing the competitiveness of the economy; sustainable budget financing; and ensuring social justice.
The goals of tax reform are closely linked to national priorities and the country’s development strategy. The Tax reform is reportedly aimed at creating more favorable environment for business, attracting investments and improving the quality of life of the population.
In the process of preparing and implementing the tax reform in Tajikistan, there are a number of complex problems and changes that need to be addressed to ensure successful and effective reform: difficult economic situation; resistance from business; administrative challenges (the successful implementation of the tax reforms will need improvement of administrative procedures and probably introduction of new technologies in order to automate the tax procedures.); informing and training; and international obligations.
Despite these problems and challenges, the tax reform remains a priority for Tajikistan as it is aimed at achieving important strategic goals and contributes to the sustainable economic growth and development of country.
