ORDER OF THE GOVERNMENT OF THE REPUBLIC OF TAJIKISTAN

of February 4, 2000 No. 61

About approval of the Instruction about procedure for calculation and payment in the budget of the income tax of legal entities

According to Item 10 of article 4 of the Tax Code of the Republic of Tajikistan the Government of the Republic of Tajikistan decides:

Approve the enclosed Instruction "About procedure for calculation and payment in the budget of the income tax of legal entities".

Approved by the Order of the Government of the Republic of Tajikistan of February 4, 2000 No. 61

The instruction No. 2 about procedure for calculation and payment in the budget of the income tax of legal entities

I. General provisions

1. This instruction is published based on the Tax code of the Republic of Tajikistan.

2. Income tax payers of legal entities (further tax) are resident and overseas enterprises (article 126 of the Tax Code of the Republic of Tajikistan, further in brackets only numbers of articles of this Code are specified). The Ministry of Communications of the Republic of Tajikistan, the Tajik railroad, the State-owned joint-stock holding company of "Barka Tochik" and Government savings bank of the Republic of Tajikistan carry out settlement with the State budget on the income tax on the main activities on a centralized basis and according to the procedure, determined by the Government of the Republic of Tajikistan.

3. The resident company is the company, the place of organization or management of which is the Republic of Tajikistan (14-1, 15. 16). The place of organization of the company is the place of state registration or, in the absence of that, the legal address of the company specified in formation documents of the company (the charter, the contract, provision) (15).

The place of enterprise management is the valid place of management in which its executive, governing body performs daily managerial functions (16).

4. Overseas enterprise is the company which is not considered resident according to Item 3 of this instruction.

5. Any foreign subject which is not physical person is considered for the purposes of the taxation as the company if it does not prove that it shall be considered as joint tenancy (126-2).

In case of the arrangement on joint tenancy by property or joint conducting the economic activity or other arrangement providing at least two owners, but without organization of the legal entity, the income and deductions by agreement concern to each owner and are assessed with tax according to their shares (161).

II. Taxation object and rates of tax

6. The taxation object of the resident company is its profit. The profit represents positive difference between the gross income of the taxpayer and deductions provided in the Section IV of this Instruction. For the purposes of Items 5-8 of this Instruction the income is determined according to provisions of the Section III of this Instruction (including all receipts leading to increase in net value of assets of the taxpayer except exempted from the income tax) (127-1).

7. The taxation object of the overseas enterprise performing activities in the Republic of Tajikistan through permanent organization is its profit on these activities, i.e. its gross income from sources in the Republic of Tajikistan connected with permanent organization, reduced by the amount of the deductions provided by the Section IV this Instruction concerning such income for this period (127-2).

8. The types of gross income of overseas enterprise provided in Item 43 of this Instruction, not connected with its permanent organization are subject to the taxation at payment source without implementation of deductions (127-3).

9. In cases of receipt by overseas enterprise of the income from sale or cession of property which is not connected with its permanent organization in the Republic of Tajikistan, the taxation object is its profit on these activities, that is its gross income of this type from sources in the Republic of Tajikistan for the calendar year reduced by the amount of the deductions provided by this Instruction and relating to such income for this period (127-4).

10. Taking into account Items 11 and 12 of this Instruction the profit of the companies is subject to taxation at the rate of 30 percent (128-1).

11. Types of gross income of overseas enterprise, stipulated in Item the 8th this Instruction, are assessed with tax at the rates specified by the Section VI of this Instruction (128-2).

12. The profit of overseas enterprise in cases, stipulated in Item the 9th this Instruction, is assessed with tax at the rate of 30 percent (128-3).

III. Gross income

13. The gross income of the taxpayer - the resident consists of income gained by it from sources in the Republic of Tajikistan and beyond its limits (119-1). The gross income of the nonresident taxpayer consists of income gained by it from sources in the Republic of Tajikistan (119-2).

All income types, except the income, tax-exempt, according to this Instruction, belong to gross income, including:

- income from economic activity;

- any other income.

14. Following represents the income from economic activity (121-1 and):

a) entrepreneurial income, including:

- profit on sale or transfer of assets, used for the purposes of Business activity;

- income gained for consent to limit business activity or to close the company;

- excess of the amount received from realization of fixed assets of certain group within year over residual book value on the end of the year (138-7);

- compensation amounts of earlier subtracted expenses, losses or doubtful debts and reducing reserves (135 (3), 136, 165);

b) the income from not business economic activity, including (121-1):

- interest income;

- dividends;

- income from leasing or employment of property;

- royalty;

- the amount of the remitted debt to the taxpayer his creditor;

- profit on sale or transfer of assets;

- any other income meaning increase in net value of assets of the taxpayer except the salary.

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