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LAW OF TURKMENISTAN

of August 15, 2009 No. 57-IV

About the state support of small and medium entrepreneurship

(as amended on 26-03-2016)

Chapter I. General provisions

Article 1. Purposes and main objectives of this Law

1. The purposes of this Law are forming of the legal basis of the state policy directed to creating favorable conditions for development of small and medium entrepreneurship as the most important link of market economy which successful functioning promotes the economic growth and social development.

2. The main objectives of this Law are creation of the effective mechanism of the state support of subjects of small and medium entrepreneurship, favorable financial, investment, material and other conditions for stimulation of development of entrepreneurship, creation of new workplaces, increases in competitiveness of domestic producers and more complete use of their potential in social and economic development of the country.

Article 2. Legislation of Turkmenistan on the state support of small and medium entrepreneurship

1. The legislation of Turkmenistan on the state support of small and medium entrepreneurship is based on the Constitution of Turkmenistan and consists of this Law and other regulatory legal acts of Turkmenistan.

2. If the international treaty of Turkmenistan establishes other rules than containing in this Law, then rules of the international treaty are applied.

Article 3. Coverage of this Law

Operation of this Law extends to the subjects of small and medium entrepreneurship specified in part one of article 5 of this Law, except for the state companies, the companies with foreign investments, the companies performing banking, insurance activity, and also the activities connected with gamblings and games on money (gambling activities).

Article 4. Basic principles and forms of the state support of small and medium entrepreneurship

1. The basic principles of the state support of small and medium entrepreneurship in Turkmenistan are:

1) priority of development of small and medium entrepreneurship;

2) complexity, publicity, openness of the state support of small and medium entrepreneurship;

3) availability of the state support to subjects of small and medium entrepreneurship;

4) provision of guarantees for freedom of business activity, and also guarantees of protection of the property right of subjects of small and medium entrepreneurship.

2. Support of small and medium entrepreneurship is performed in legal, organizational, property, financial, information and other forms at the national level and level of welayats and the city of Ashgabat.

3. State governing bodies and local self-government perform interaction for the purpose of carrying out single state policy on support of small and medium entrepreneurship.

Article 5. Subjects of small and medium entrepreneurship

1. For the purposes of this Law are understood as subjects of small and medium entrepreneurship: 

1) entrepreneurial legal entities: 

a) the microcompanies with average number of the workers occupied in the industry, power industry, construction, gazo-and water supply - to 15 people, in other industries - no more than 10 people; 

b) small enterprises with average number of the workers occupied in the industry, power industry, construction, gazo-and water supply - from 16 to 50 people, in other industries – from 11 to 25 people; 

c) medium scale enterprises with average number of the workers occupied in the industry, power industry, construction, gazo-and water supply - from 51 to 200 persons, in other industries – from 26 to 100 people; 

2) the physical persons who are engaged in business activity without formation of legal entity, individual entrepreneurs at whom the average number of busy workers does not exceed 10 people, including the most individual entrepreneur.

2. The average number of the workers occupied subjects of small and medium entrepreneurship is determined for calendar year taking into account all workers including working part-time, seasonal and temporary employees, and also the employees of their branches, representations and other separate divisions who are not independent legal entities.

3. Exceeding for calendar year of the average number of workers established by part one of this Article attracts the termination of the right to the privileges provided by this Law.

In case of exceeding of average number of workers for accounting year the right to privileges stops since April 1 the year following after accounting year.

If the average number of workers is brought into accord with part one of this Article, the right to privileges can be recovered in year after its termination.

Article 5-1. Accounting and reporting

The subject of small and medium entrepreneurship records and represents necessary statistic, accounting, tax and other reports to the relevant state bodies according to the procedure and terms which are stipulated by the legislation Turkmenistan.

Article 5-2. Insurance of activities and property of subjects of small and medium entrepreneurship

Insurance of activities and property of subjects of small and medium entrepreneurship is made according to the procedure, established by the legislation of Turkmenistan.

Article 5-3. Licensing of activities of subjects of small and medium entrepreneurship, issue of patents to them

Licensing of the separate types of activity performed by subjects of small and medium entrepreneurship issue of patents to them is made according to the legislation of Turkmenistan.

Chapter II. State regulation in the field of small and medium entrepreneurship

Article 6. State regulation in the field of small and medium entrepreneurship

State regulation in the field of small and medium entrepreneurship is performed by the Cabinet of Ministers of Turkmenistan, State commission on support of small and medium entrepreneurship (further - State commission), local executive bodies and local self-government, the commissions on support of small and medium entrepreneurship in welayats and the city of Ashgabat (further - the velayatsky commissions).

Article 7. Competence of the Cabinet of Ministers of Turkmenistan

Cabinet of Ministers of Turkmenistan:

1) determines state policy by support of small and medium entrepreneurship;

2) approves the State program of support of small and medium entrepreneurship;

3) creates State commission and approves Regulations on it;

4) the Item is excluded according to the Law of Turkmenistan of 29.08.2013.

4) is established by the preferential amount of registration fee (state fee) for state registration (re-registration) of subjects of small and medium entrepreneurship;

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