Wednesday, May 23, 2012 -
Tajikistan’s lower house of parliament passed a bill Wednesday exempting new companies within the production sector from government audits for their first three years in business.
“The three-year moratorium will cover only those producing entities which will use state-of-the-art production technologies,” Tajik State Investments and Property Management Committee chief Davlatali Saidov said, the Asia-Plus news agency reported.
The new legislation is aimed at developing the private sector and national economy, create new jobs, fight the shadow economy, and improve social conditions, Saidov told the parliamentary deputies.
During presentation of the bill, Saidov said the initiative will be implemented by a special governmental commission of representatives formed of representatives of related ministries, departments, and private sector.
“To implement the mechanisms, the new law will create a state commission that will register all business entities and, subject to the moratorium, to issue certificates," Saidov was quoted as saying by the Avesta.tj news agency.
The official noted that a similar moratorium, applied in 2008 for two years, helped boost entrepreneurship in the country.
The bill is to be discussed by the upper house of parliament and requires the signature of the country’s president before becoming become law.