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Wednesday 23 October 2019

Financial Exemptions for Mining Companies in Tajikistan


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DUSHANBE (Satrapia) — The Tajik government has relaxed legislation allowing mining operators to pay a single, lump sum tax in the form of subscription fees. . According to the lower house of parliament, the corresponding amendments to the tax code were presented today. Introducing the amendments, Tajikistan’s Minister of Finance, Fayziddin Kakhhorzoda, indicated that companies that would participate in the geological exploration of the Republic’s mining resources are exempt from paying the royalty.

Mining companies will pay 30% of the total amount of this tax after receiving a license for one month. These companies, with the exception of coal mining ones, will pay the remaining 70% for one year in equal shares on a monthly basis after the start of field development. Coal companies, depending on the size of this calculated subscription premium, will have to pay from 1 to 10 years, also monthly.

MP Azimkhon Tolibzoda noted that prior to the adoption of these amendments, subsurface operators, including those engaged in geological exploration of the subsurface, paid 50% of the signing fee before they obtained a licence.

The Minister of Finance expects that after the introduction of these exemptions, the volume of investments attracted by mining will increase, which would help to increase the tax income.

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