Letter of the Main state tax authorities of Turkmenistan
of August 10, 2005 No. 2004/1
Branch company Barren
Rezorsiz Petroleum Limited
On your No. MASh/0508 - 10/yutkh of 05.08.2005
The main State Tax Service of Turkmenistan, having considered your letter, reports the following.
According to part 5 of article 1 of the Tax Code of Turkmenistan, the taxation is made based on acts of the tax legislation of Turkmenistan.
According to part 1 of article 2 of the Code, the Tax legislation is based on the Constitution of Turkmenistan and consists of the Tax code of Turkmenistan and other regulatory legal acts of Turkmenistan regulating tax legal relationship.
Provisions of the Tax code are applied to persons which are contractors and subcontractors according to the Law of Turkmenistan "About hydrocarbonic resources" taking into account the features on the taxation established by this Law.
Features of the taxation of legal entities - the nonresidents of Turkmenistan gaining income from sources are determined by article 180 of the Tax Code of Turkmenistan.
Besides, article 177 of the Tax Code of Turkmenistan determines procedure for calculation and tax discharge on profit (income) by separate legal entities.
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