Abstract
IMF Country Report No. 21/201
Copyright Page
IMF Country Report No. 21/201
REPUBLIC OF TAJIKISTAN
SELECTED ISSUES
September 2021
This Selected Issues paper on the Republic of Tajikistan was prepared by a staff team of the International Monetary Fund. It is based on the information available at the time it was completed on December 26, 2019.
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Title page
© 2021 International Monetary Fund
REPUBLIC OF TAJIKISTAN
SELECTED ISSUES
December 26, 2019
Approved By
Middle East and Central Asia Department
Prepared by Nailya Menlasheva, Yuri Sobolev and Farid Talishli.
Contents
FISCAL RISKS FROM STATE-OWNED ENTERPRISES AND REFORMS IN TAJIKISTAN.
A. Introduction
B. Losses and Fiscal Risks from the largest SOEs
C. SOE Reform Efforts in Tajikistan
D. What More is Needed?
FIGURES
1. Losses by Barki Tojik and other SOEs
2. Barki Tojik Proceeds from Energy Sales
TABLE
1. Summary of Financial Position and Performance of 13 Large Non-Financial SOEs
ANNEX
I. International Experience with Reforms of State-Owned Enterprises
References
TAJIKISTAN’S TAX INCENTIVES REGIME
A. The Main Characteristics of Tajikistan’s Tax Regime and Tax Policy
B. Tax Incentives in Tajikistan
C. International Experience with Tax Incentives
D. Tax Incentives Reform Recommendations
FIGURES
1. Tax Revenue Across the CCA
2. Structure of Tax Revenue in 2018 and Trade Related Taxes
TABLES
1. Effective Tax Rates in the CCA and LICs
2. Contribution to Effective Tax Rates in the CCA and LICs
3. Tax Rates in the CCA and LICs
4. Profit-Based Tax Incentives
5. Advantages and Disadvantages of Various Types of Tax Incentives
References