The Tax Committee has proposed the Government to make changes to the country’s legislation regarding registration of entities engaged in electronic trading with tax agencies.

“Such entities offer certain services to citizens of the country for money and they should pay taxes,” Nusratullo Davlatzoda, the head of the Tax Committee under the Government of Tajikistan, told reporters in Dushanbe on February 14.  

According to him many counties of the world made changes to their legislation several years ago and now collect income tax on profits received through the electronic trading.  

“In Russia, for example, electronic trading has been taxed since 2016 and about 160 companies engaged in electronic trading have been registered with the tax authorities of this country,” Davlatzoda stressed.

Electronic, sometimes called e-trading or paperless trading, is the process of conducting stock market transactions (buy and sell orders) using an electronic platform that transfers the orders to a physical person to complete.  Information technology is used to bring together buyers and sellers through an electronic trading platform and network to create virtual market places.  Electronic trading has become a popular method due to its ability to conducts transactions quickly and effectively.