Schiever Tajikistan granted 6-month tax extension for opening of Auchan hypermarket in Dushanbe

26/02/2016 15:25
Asia-Plus
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DUSHANBE, February 26, 2016, Asia-Plus – The Government of Tajikistan has ordered to grant a 6-month tax extension to Schiever Tajikistan, the holder of the franchise for Auchan hypermarkets in the country.

A total volume of the deferred amount is €2,491,384.

The Customs Service is reportedly charged to ensure control over correctness of submission of customs cost and targeted use of goods in accordance with enclosed list of goods.     

A total volume of direct investments for construction of the first hypermarket in Tajikistan is reportedly €7 million.   

Schiever Tajikistan is the holder of the franchise for Auchan hypermarkets in the country.  Schiever Tajikistan is a subsidiary of Schiever group, the French company which partners with Auchan group in France and Poland where it operates Auchan hypermarkets.  Schiever has the Auchan master franchise for Tajikistan.

We will recall that the European Bank for Reconstruction and Development (EBRD) became a shareholder in Schiever Tajikistan.  The EBRD and Schiever reportedly extended their partnership on June 30, 2015 by signing a shareholder agreement making the EBRD a minority shareholder in Schiever Tajikistan.  The EBRD has a 34 per cent equity stake in Schiever Tajikistan.  The total financial package provided by the EBRD to Schiever Tajikistan amounts to €5 million.

The new 5,000 m² hypermarket is expected to bring not only competition and lower prices, but also new standards in food quality, hygiene and logistics.  The EBRD and Schiever are also working on a program to develop the Tajik food value chain in partnership with local suppliers.

According to a preliminary estimate, the annual turnover of the hypermarket in 2016 will amount to 270 million somoni and the volume of VAT will amount to 41 million somoni. 

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