Wednesday, April 25, 2012 -
A Tajik firm planning to build a cement production plant will not have to pay taxes on the industrial enterprise, Tajikistan’s parliament said on Wednesday.
The reprieve will save the Huaksin Ghayyur Cement firm $28.3 million in taxes, the Tajik-based Avesta.tj news agency reported.
Broken down further, the cement producing firm would have had to pay $9.9 million in value-added tax (VAT) and $2.7 million in customs duties.
Finance Minister Safarali Nadzmiddinov said the total cost of the project to build the plant is $100 million, of which $77 million will be used to purchase equipment, machinery, and implement the production line.
Construction on the cement plant is expected to take 16 months, he added.
The plant is expected to provide employment for 1,000 and produce over 1 million tons of cement each year.