Company constructing one more 5-star hotel in Tajik capital exempted from paying Vat and customs duties
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Construction of the hotel officially began in August last year.
According to information posted on its website, Sebiston-2018 is one of largest construction companies operating in Dushanbe. For a short period of operation in Dushanbe, the company has reportedly built five residential buildings with a total of (sic) 10,000 apartments.
In aggregate, during the period of its operation in Tajikistan, Sebiston-2018 has reportedly built housing with an overall space of more than 1 million square meters.
Recall, a company constructing a 5-star Ismoili Somoni Hotel in Dushanbe has received similar tax benefits since 2006.
The country’s budget for 2021 notes that the company constructing Ismoili Somoni Hotel in Dushanbe will be exempted from paying VAT, profit tax and road user tax.
The construction of Ismoili Somoni Hotel officially commenced in Dushanbe on March 15, 2006. Speaking at a groundbreaking ceremony for the hotel, Tajik President Emomali Rahmon expressed hope that it would be finished in accordance with schedule in one and a half years. In 2006, the budget for construction of the hotel was reportedly estimated at 30 million U.S. dollars
It had previously been noted Ismoili Somoni Hotel is being built on orders from the President’s Executive Office by a company called Ismoili Somoni-21st Century.
Meanwhile, it is now noted that China’s Beijing Foch Mechanical Equipment Installation Engineering Co., Ltd is general contractor and Joint-Stock Company (JSC) Dollmark Ltd, which is registered in the British Virgin Islands (BVI), is the customer of the hotel.
The hotel was expected to be completed before the end of 2018 and to be put in commission in 2019. However, Ismoili Somoni Hotel is being constructed for already fourteen years and the company constructing the hotel has enjoyed tax breaks all these years being exempted from paying VAT and custom duties.
Source: Asia Plus