LAW OF THE REPUBLIC OF TAJIKISTAN

of November 23, 2015 No. 1245

About entering of amendment into the Tax code of the Republic of Tajikistan

Accepted by the Resolution MH MOPT of October 28, 2015, No. 205

Approved by the Resolution MM MORT of November 12, 2015, No. 132

Article 1. Add the Tax code of the Republic of Tajikistan of September 17, 2012 (Akhbori of Majlisi Oli of the Republic of Tajikistan, 2012, No. 9, Art. 838; 2013, No. 12, Art. 889, Art. 890; 2015, No. 3, Art. 210) Chapter 47 (2) following content:

"Chapter 47 (2). Features of the taxation of subjects of the security market

Article 313 (2). Features of the taxation of subjects of the security market

1. Provisions of this Article are applied to subjects of the security market - professional participants of the security market (further - professional participants), to the issuers and investors participating in the organized market of securities.

2. Treat activities of professional participants:

- broker activities;

- dealer activities;

- activities for portfolio management of securities;

- activities for determination of cross liabilities (clearing) on transactions with securities;

- activities for maintaining the register of security holders;

- depository activity;

- activities for the organization of trade in the security market.

3. The professional participants performing the activities established in part 2 of this Article during implementation of these activities are exempted from payment of the following taxes for a period of 5 years:

- income tax;

- value added tax.

4. Issuers - the legal entities who are residents and nonresidents whose securities are in circulation on the stock exchanges functioning in the territory of the Republic of Tajikistan are exempted for a period of 5 years from the tax discharge on profit (tax on the simplified mode) depending on income gained from these activities.

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