Letter of the Main state tax authorities of Turkmenistan

of June 20, 2005 No. 23/1943

To head departments of economy and finance of welayats and Ashgabat to the State Tax Services on welayats and Ashgabat

The Ministry of Economics and finance of Turkmenistan and the Main State Tax Service of Turkmenistan in connection with the arriving questions report the following.

By the resolution of the President of Turkmenistan of August 23, 2002 No. 5835 "About enhancement of procedure for use of state-owned property" it is determined that lessor of the state-owned property consisting on balance of the state companies, organizations and organizations is the Ministry of Economics and finance of Turkmenistan (except for hyakimlik of the welayats, the cities and etraps performing powers of the lessor of non-residential premises in apartment houses subordinated to them).

The amount and structure of the rent, procedure and terms of its payment and distribution are established by conditions of the lease agreements signed between the lessor and the lessee in coordination with the asset holder of leased state-owned property. Part of the rent goes to the income of the relevant budget, other part of the rent goes to the asset holder.

According to article 107 of the Tax Code of Turkmenistan the taxpayer making taxable transactions shall write out to the receiver of goods, works or services the tax invoice of the established sample.

With respect thereto, irrespective of financial lease term, the statement of the tax invoice and issue to her payer is obligation of the asset holder (taxpayer) who performs it on each payment date established by the lease agreement. In some cases the statement of the tax invoice and issue to her payer is performed by the Ministry of Economics and finance of Turkmenistan (or Head departments of economy and finance of welayats and Ashgabat).

Besides, if provisions of the lease do not provide the statement of the invoice for transfer of the rent (the obligation of the lessee to list it independently is established), the specified agreement is the basis for execution of the tax invoice.

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