Letter of the Main state tax authorities of Turkmenistan

of August 1, 2005 No. 1938/1

To the State Tax Services on welayats and Ashgabat

The main State Tax Service of Turkmenistan based on letters of Competent authority on use of hydrocarbonic resources пр the President of Turkmenistan No. 1099 of 31.05.2005, No. 1433 of 14.07.2005 reports to No. 1463 of 16.07.2005 the following.

According to provisions of the production sharing agreements signed between Competent authority on use of hydrocarbonic resources in case of the President of Turkmenistan and the contractors performing the activities according to the Law of Turkmenistan "About hydrocarbonic resources" regarding the explanation of terms determination "Subcontractor" means any person which directly or indirectly won contract from the contractor or at the request of the Contractor on provision of services, accomplishment of oil works, delivery of goods.

Business entities the subcontractors or persons performing oil works for the last regarding the works provided by the Agreement on the Section of products fall under concept subcontractor for the purposes of use of the provisions of the law of Turkmenistan to them "About hydrocarbonic resources".

The specified explanation should be applied taking into account relevant provisions of Production sharing agreements and the specific determinations containing in them.

The above inform the subordinate State Tax Services and interested persons as recommendations for practical use in work.

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