LAW OF TURKMENISTAN

of September 12, 2016 No. 435-V

About modification and amendments in the Tax code of Turkmenistan

I. Bring in the Tax code of Turkmenistan accepted Hulk Maslakhata of Turkmenistan on October 25, 2004 (in edition of the Law of Turkmenistan of October 25, 2005) (Turkmenistanyn Halk Maslahatynyn resmi namalarynyn yygyndysy, 2005, HM-80; Sheets of Majlis of Turkmenistan, 2005, No. 3-4, of Art. 37; 2006, No. 3, Art. 12; 2007, No. 1, Art. of Art. 20 and 24, No. 2, Art. 48, No. 4, Art. of Art. 68 and 74; Turkmenistanyn Halk Maslahatynyn resmi namalarynyn yygyndysy, 2008, HM-96; Sheets of Majlis of Turkmenistan, 2008, No. 1, Art. 7, No. 3, Art. 41; 2009, No. 2, Art. 41, No. 3, Art. 45; 2010, No. 1, Art. 19, No. 2, Art. 34, No. 3, Art. 64; 2011,№ 1, Art. of Art. 5 and 24, No. 2, Art. 45, No. 3, Art. 59; 2012, No. 1, Art. 48, No. 3, Art. 68; 2013, No. 1, Art. 7, No. 2, Art. 26; 2014, No. 1, Art. of Art. 24 and 49, No. 3, Art. 112, No. 4, Art. 149; 2015, No. 2, Art. of Art. 48 and 71, No. 3, Art. 111, No. 4, Art. 146; 2016, No. 1, Art. 52), following changes and amendments:

1. In the text of the Code to replace the reference to "The civil code of Turkmenistan of Saparmurat Turkmenbasha" with the reference to "The civil code of Turkmenistan".

2. Third of article 1 of the Code in state language to state part in the following edition:

"3. Su bitewi Kanunda bellenen salgytlar babatynda salgyt toleyji diylip ykrar edilyan her bir tarap olary tolemage borcludyr.".

3. In Article 2:

in the paragraph the second the Code part one in state language of the word "kadalasdyryan namalar" shall be replaced with words "duzgunlesdiryan kadalasdyryjy hukuk namalar";

add with part of the following content:

"6. In tax legal relationship any concept which is not determined by provisions of this Code can have that value which is determined by regulatory legal acts of Turkmenistan.".

4. In part one and the second Article 3, parts four of article 7 of the Code in state language of the word "Salgyt hakynda", "ulanylyan", "salynyan jerimeler hem-de gayry careler replace respectively with the words "Salgytlar hakynda", "hereket edyan", "jerimeler hem-de gayry careler gornusindaki tolegler".

5. In Article 8 of the text of the Code in state language:

in part one to exclude the word "berilyan";

in the second offer of paragraph two of part two, in paragraph three of part four of the word "geljekki toleglerin hasabyna sonundan hasaplasyk gecirmage", "kopeltmek" to replace respectively with the words "sonra geljekki toleglerin hasabyna hasaplasyga alynmaga", "artdyrmak".

6. To add part one of Article 9 with the paragraph of the following content:

"Tax payment by legal nonresident persons of Turkmenistan, including through tax agents, can be performed in foreign (freely convertible) currency.".

7. In Article 17:

third into Russian to state the paragraph to part one of transfer of the text of the Code in the following edition:

"or its principal governing body (administration, directorate, board or other similar body) is in the territory of Turkmenistan.";

the second after the paragraph of the fourth to add part with paragraphs of the following content:

"The foreign legal entity also shall provide the original of official confirmation of the tax residence of foreign state for the corresponding year to Tax Service and the copy – to tax agents no later than March 1 every year in which exemption of the income tax (income) of legal entities or provision of other fiscal privileges according to provisions of Article of 181 of this Code is applied to it. In case of non-presentation of such official confirmation of the tax residence by the tax agent application to the foreign legal entity of exemption of the income tax (income) of legal entities or provision of other fiscal privileges according to provisions of Article of 181 of this Code shall stop and provisions of article 180 of the Code shall be applied to this foreign legal entity properly about what the relevant Tax Service in five-day time in writing informs tax agents. Renewal of application to such foreign legal entity of exemption of the income tax (income) of legal entities or provision of other fiscal privileges according to provisions of Article of 181 of this Code is made since the day following behind day of representation of official confirmation of the tax residence of foreign state by it for the corresponding year in Tax Service and copies – to tax agents.

If at the foreign legal entity the tax residence (it becomes the tax resident of other country), then it shall provide the original of official confirmation of the tax residence of other foreign state in Tax Service no later than twenty days after date of its change changes. In this case concerning the former tax residence of such person exemption of the income tax (income) of legal entities or provision of other fiscal privileges according to provisions of Article of 181 of this Code stops and provisions of article 180 of this Code shall be applied to this foreign legal entity as appropriate about what the relevant Tax Service shall inform in writing in five-day time the foreign legal entity and tax agents.";

the fifth to consider the paragraph the paragraph the seventh.

8. In Article 18:

in part one:

in paragraph eleven of the word "also registration of the right to real estate is performed;" to exclude;

the thirteenth to state the paragraph in the following edition:

"works actually terminated after signing of the delivery and acceptance certificate of object (complex of works) or after the customer begins operation of this object (except for the works which are carried out within the guarantee maintenance provided by the relevant agreement or the legislation of Turkmenistan).";

in state language to state the Code part two Item "d)" in the following edition:

"d) su edara gornusli tarapyn adyndan dine sertnamalara gol cekismek maksatlary ucin hemiselik saklanyan yer;";

in part three of the word "tabsyryk-sertnamanyn, toparyn ya-da konsignasiyanyn we sona menzes ylalasygyn" shall be replaced with words "tabsyryk, komissiya ya-da konsignasiya sertnamasynyn ya-da beyleki sona menzes sertnamanyn".

9. In paragraph three and the fourth in state language of the word "salgyt toleyji tarapyndan" and "salgyt edarasyna" to replace parts two of article 19 of the Code respectively with the words "salgyt toleyjilere" and "salgyt gullugyna".

10. The second article 20 of the Code in state language to state part in the following edition:

"2. Edara gornusli tarapyn esaslandyryjy resminamalarynyn ya-da Turkmenistanyn kanuncylygynyn esasynda onun bahbidine wekilcilik edyan tarap salgyt toleyjinin (salgyt yumuscysynyn) kanuny wekili diylip ykrar edilyar.

Salgyt toleyji (salgyt yumuscysy) – edara gornusli tarapyn kanuny wekilinin salgyt hukuk gatnasyklaryndaky hereketi (hereketsizligi) of bu edara gornusli tarapyn hereketi (hereketsizligi) hokmunde ykrar edilyar.".

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