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TAX CODE OF THE REPUBLIC OF TAJIKISTAN SECTION VII. VALUE-ADDED TAX CHAPTER 28. DEFINITION OF TAXABLE TURNOVER AND TAXABLE IMPORTS Article 208. Value of a Taxable Transaction 1. The value of a taxable transaction shall be determined on the basis of the amount (the value, including in kind) which the taxpayer receives or has the right to receive from a customer or any other person, including any duties, taxes, and/or other fees, but not including the VAT and retail sales tax. 2. If a taxpayer receives or has the right to receive goods, work, or services in exchange for a taxable transaction, the value of the taxable transaction shall include the market value of these goods, work, or services (including any duties, taxes, or other fees), but not including the VAT and retail sales tax. 3. In the event that a taxpayer does not receive or does not have the right to receive any values in exchange for a taxable transaction, the value of the taxable transaction shall be equal to the market value of the goods delivered, the work performed, or services provided by the taxpayer in the process of said taxable transaction (including any duties, taxes, or other fees), but not including the VAT and retail sales tax. 4. In the case of the consumption or use of goods (work or services) for noncommercial purposes as set forth in item 3 of Article 206 of this Code, and also in the case of deliveries of goods (performance of work or provision of services) for one's own employees as set forth in item 4 of Article 206 of this Code, the amount of a taxable transaction shall be equal to the market price of these goods, work, or services (including any duties, taxes, or other fees), but not including the VAT and retail sales tax. 5. When goods are delivered under an arrangement calling for payment in installments, the value of the taxable transaction shall be determined in accordance with item 1 of this article, taking into account all of the payments to be made under the installment plan as specified by the terms of the agreement, including a financial leasing agreement, with the exception of interest payments. 6. When property is (goods are) mortgaged, the value of this taxable transaction on the part of the mortgagor shall be determined on the basis of the amount of borrowed funds received against the security of the given property (goods), not including the value-added tax (that is, not including the value-added tax in the value of the mortgaged property (goods) or in the amount of borrowed funds). 7. When wholesale and retail trade enterprises and procurement enterprises that are taxpayers with respect to the VAT purchase goods from persons who are not payers of the VAT, and these taxpayers subsequently deliver the goods to another party, the value of the taxable transaction shall be considered to be equal to the positive difference between the value of the delivery of these goods, not including the VAT, and the value of their acquisition from the non-payer of the VAT. In the event of a negative difference, the value of the taxable transaction for purposes of calculating the VAT shall be assumed to be equal to zero. Article 209. Adjustment of Taxable Turnover 1. This article shall apply to a taxpayer's taxable transactions in the following cases: 1) cancellation of a transaction; 2) a change in the nature of a transaction; 3) a change in the agreed-upon compensation for a transaction both due to a drop in prices and for any other reason; or 4) the full or partial return of goods to the taxpayer (refusal to accept work or services performed by the taxpayer). 2. If as a result of the occurrence of one of the events referred to in item 1 of this article the taxpayer: 1) presents a VAT invoice in which the VAT amount indicated is incorrect; or 2) has indicated the incorrect VAT amount in a VAT return, An adjustment shall be made in accordance with item 2 of Article 225 or item 8 of Article 226 of this Code. 3. An adjustment of a taxable transaction shall be made on the basis of a supplemental VAT invoice or other documents confirming the occurrence of situations referred to in item 1 of this article after the completion of the original taxable transaction. Article 210. Value of Taxable Imports 1. The value of taxable imports shall be the customs value of goods as determined in accordance with the customs legislation of the Republic of Tajikistan, plus the amount of duties and taxes payable on the importation of goods into the Republic of Tajikistan, but not including the VAT. 2. In the case of services that are treated as
part of the importation of goods according to item 2 of Article
222 of this Code, their value not including the VAT shall
be added to the value indicated in item 1 of this article.
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