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RESOLUTION OF THE PRESIDENT OF TURKMENISTAN

of June 4, 1997 No. 3184

About approval of the Procedure for relations of the State fund of development of the oil and gas industry and mineral resources of Turkmenistan with concerns and corporations of oil and gas complex and the Government budget of Turkmenistan

(as amended on on January 21, 1999)

According to the resolution of the President of Turkmenistan of April 7, 1997 "About increase in production efficiency and financial improvement of economy of Turkmenistan" and for the purpose of further enhancement of calculations for the realized gases and oil products, and also streamlinings of accounting and the reporting under the companies and organizations of oil and gas complex I decide No. 3089:

1. Approve and enact since June 1, 1997. The procedure for relations of the State fund of development of the oil and gas industry and mineral resources of Turkmenistan with concerns and corporations of oil and gas complex and the Government budget of Turkmenistan (is applied).

2. Assign to the State trade corporation "Turkmenneftegaz" creation of the summary accounting report on the gas industry for 1996 on the basis of the submitted annual reports of the Turkmengaz and Turkmenneft State concerns constituted proceeding from sales amounts of natural and associated gas and gas condensate on sales prices in the external and internal markets according to the Procedure approved by this resolution.

3. Recognize invalid:

the resolution of the President of Turkmenistan of July 4, 1996 No. 2727 "About approval of the Procedure for relations of the State fund of development of the oil and gas industry and mineral resources of Turkmenistan with the State trade corporation "Turkmenneftegaz" and the Government budget of Turkmenistan";

the resolution of the President of Turkmenistan of October 10, 1996 No. 2816 "About modification of the Procedure for relations of the State fund of development of the oil and gas industry and mineral resources of Turkmenistan with the State trade corporation "Turkmenneftegaz" and the Government budget of Turkmenistan";

Item 3 of the Procedure of payments for the goods and products received on account of clearing supply of the gas approved by the resolution of the President of Turkmenistan Of January 9, 1997 No. 2965 "About state regulation of clearing deliveries for natural gas export";

the order of the President of Turkmenistan of July 10, 1996 No. 1275.

 

President of Turkmenistan

Saparmurat Turkmenbashi

Approved by the resolution of the President of Turkmenistan of June 4, 1997, No. 3184

Procedure for relations of the State fund of development of the oil and gas industry and mineral resources of Turkmenistan with concerns and corporations of oil and gas complex and the Government budget of Turkmenistan

1. Export proceeds from sales of natural and associated gas and gas condensate, crude oil, oil products, proceeds from sales of the specified products at the biddings of the State commodity and raw exchange of Turkmenistan, an also other receipts according to Regulations on Fonda go to the State fund of development of the oil and gas industry and mineral resources of Turkmenistan (the Fund is referred to as).

2. it is excluded

3. it is excluded

4. it is excluded

5. it is excluded

6. The fund in 3-day time after receipt of funds from realization of natural and associated gas and gas condensate transfers from them 43 percent into the Centralized budget of Turkmenistan in the form of preliminary payments (on the taxes brought in centralized procedure), and allocates other funds:

on financing of the costs connected with economic activity of Turkmengaz and Turkmenneft State concerns with cost accountings on social needs. At the same time the Turkmengaz State concern lists part from the received means to the State trade corporation "Turkmenneftegaz" on covering of losses of the companies of gas supply and gas transmission companies at regulated prices according to the estimate for the specified expenses approved by the Cabinet of Ministers of Turkmenistan;

according to the functions assigned to Fund on financing of the capital investments and conducting exploration works on orders of Turkmenneft and Turkmengaz State concerns.

In similar procedure assignments from the means arriving from oil sale and oil products (except for royalty and costs of oil products on wholesale selling prices), with contribution to the budget in the form of preliminary payments of the State trade corporation "Turkmenneftegaz" in the amount of percent 37,5 are made.

7. Turkmengaz and Turkmenneft state concerns, the State trade corporation "Turkmenneftegaz" in case of creation of reports on sales amounts of products include in them the confirmed revenue amount (taking into account royalty), and also the cost of the goods and products received by the companies and the organizations of oil and gas industry for clearing no later than 60 days after their customs clearance, and proceeds from sales of natural and associated gas and gas condensate in Turkmenistan.

The report on sales amounts of natural and associated gas and gas condensate on Turkmengaz and Turkmenneft State concerns is constituted by each of them independently on the types of activity performed by them.

The Turkmenneft state concern and the State trade corporation "Turkmenneftegaz" in accordance with the established procedure constitute the reporting under oil sale and oil products.

8. Taxpayers and obligatory payments in the Government budget of Turkmenistan are the State trade corporation "Turkmenneftegaz", Turkmenneft and Turkmengaz State concerns and their divisions on places on the types of activity performed by them.

Taxes and obligatory payments in the budget are made in accordance with the established procedure according to the current legislation of Turkmenistan and this Procedure.

9. The fund makes payments directly in the Government budget of Turkmenistan on natural and associated gas and gas condensate for Turkmenneft and Turkmengaz State concerns agrees to the calculations provided by them with the Government budget of Turkmenistan in centralized procedure on natural and associated gas and gas condensate on the value added tax, the income tax and tax for use of natural resources.

The specified calculations are constituted and represented to the Main state tax authorities of Turkmenistan monthly to the 25th following for reporting. The sums of the additionally accrued taxes by the specified calculations are granted on the budget in 4-day time from the date of, established for representation of calculations.

Other taxes and obligatory payments in the budget are made by the companies and the organizations subordinated to Concerns, in the decentralized procedure.

For the tax purposes join in the amount of proceeds from sales of products:

a) the currency earnings from realization of natural gas counted at the Central Bank rate of Turkmenistan;

b) the cost of the goods and products which arrived on clearing to the companies of system of oil and gas industry on which there came terms of inclusion in the reporting;

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