The tax system of Turkmenistan is submitted by laws and other normative legal acts on principles, forms and methods of establishing, change and payment of taxes and applications of measures on maintaining their payment.
The approval of the State budget of Turkmenistan as well as its executions concerns to competence of the Parliament of Turkmenistan. The Cabinet of Ministers of Turkmenistan as an authorized body of the country takes measures on realization of the State budget and strengthening of monetary system of the country.
Taxes in Turkmenistan:
- Income tax.
- Value added tax.
- Tax on operations with securities.
- Tax on property.
- Tax imposed on earth bowels' users.
- Duties on national insurance.
- Duties to the State Fund of agriculture development in Turkmenistan.
Useful links:
- Main Tax State Service of Turkmenistan;
- Tax news of Turkmenistan;
- Legal documents on taxation;
- Law "On income tax";
- Law "On value added tax";
- Law "On tax on operations with securities".
Customs in Turkmenistan
During the years of independence the legal base for transition to market economy in Turkmenistan has been created. Legal acts and other normative documents have been developed as well.
The customs policy of Turkmenistan is adjusted by the State Customs House of Turkmenistan. The Main State Tax Service of Turkmenistan and the Ministry of Economy and Finance also directly participate in development of customs policy.
Legislative and normative acts on regulation of the sphere of economic activities in the country have been accepted. The legislation authorizes a number of customs modes functioning in Turkmenistan:
- transit;
- customs warehouse;
- duty free shop;
- free customs area;
- free store;
- import of goods for processing on the customs territory;
- import of goods for processing under the customs control;
- temporary import of goods;
- import of foreign goods to the customs territory of Turkmenistan;
- re-export;
- export.
Useful links:
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