Commentary of CJSC “International Bank of Tajikistan” regarding the Pilot Project on the Taxation of Individual Entrepreneurs
CJSC “International Bank of Tajikistan”, in order to clarify the content of the “Procedure for the Implementation of the Special Regulatory Regime within the Framework of the Pilot Project in the Field of Taxation of Individual Entrepreneurs” and to prevent misunderstandings between the public and entrepreneurs, provides the following information.
First of all, we emphasize that the new pilot project does not apply to money transfer transactions between individuals (including between family members, relatives, and other citizens) that are non-commercial in nature, and such transactions are not subject to taxation. In addition, this Procedure applies exclusively to transactions carried out after the introduction of this system and does not apply to transactions completed earlier.
The main purpose of the pilot project is to create favorable conditions for the activities of individual entrepreneurs, simplify taxation processes, and promote the development of cashless payments. Within the framework of this project, the tax rate for individual entrepreneurs has been reduced from 6 percent to 3 percent, while tax calculation is carried out automatically. At the same time, in order to encourage the use of cashless payments, a certain portion of this rate, namely 1 percent, is returned to the buyer (payer) in the form of cashback.
In addition, with respect to activities carried out through cash settlements, the tax rate has also been reduced from 6 percent to 3 percent, while the use of cash register control devices is being strengthened for both forms of settlements.
This once again demonstrates that the Government of the Republic has focused its primary attention not on increasing the tax burden, but rather on creating favorable conditions for the development of digital entrepreneurship and cashless payments.
If an entrepreneur is officially engaged in commercial activities, they have the right to conduct activities through both cashless and cash settlements at a rate of 3 percent.
Out of the indicated 3 percent, 1 percent is automatically returned to the buyer in the form of cashback. The refund is carried out automatically by the system, without human intervention, through a digital regulation mechanism.
CJSC “International Bank of Tajikistan” also informs clients that the use of electronic wallets, bank cards, and other modern payment instruments is safe, and that the protection of banking secrecy is fully ensured.
Citizens and entrepreneurs are requested not to trust unverified information and to rely exclusively on official information from authorized bodies.
CJSC “International Bank of Tajikistan” will continue to implement the necessary measures for the development of cashless payments and the improvement of the level of financial services.
More detailed information can be obtained here: Procedure