THE CONVENTION BETWEEN THE REPUBLIC OF TAJIKISTAN AND TURKMENISTAN OB IZBEZHANII DVOYNOGO NALOGOOBLOZHENIYA I PREDOTVRASHCHENIYA UKLONENIYA OT UPLATY NALOGOV NA DOKHODY I NA CAPITAL OF THE REPUBLIC OF TAJIKISTAN AND TURKMENISTAN

of December 9, 2007

(further referred to as with "Contracting states"), wishing to sign the Convention about avoidance of double taxation concerning taxes on the income both on the capital, and with intention to develop economic cooperation between two countries,

agreed as follows:

Section 1. Convention scope

Article 1. PERSONS To WHOM the CONVENTION is APPLIED

This Convention is applied to persons which are residents of one or both Contracting States.

Article 2. TAXES TO WHICH the CONVENTION EXTENDS

1. This Convention is applied to the taxes on the income and on the capital levied on behalf of the Contracting State or its political and administrative divisions, or regional authorities irrespective of method of their collection.

2. All taxes levied from the total amount of the income on the total amount of the capital, or from separate elements of the income or the capital including taxes on the income from alienation of personal or real estate, the taxes levied from the total amount of the salary or salary paid by the companies and also the taxes levied from the income from capital gain are considered as taxes on the income and on the capital.

3. The existing taxes to which the Convention extends are in particular:

a) in the Republic of Tajikistan:

(i) the income tax from physical persons (tax on the income of physical persons);

(ii) income tax of legal entities;

(iii) non-personal tax; (further the referred to as "taxes of Tajikistan");

(b) in Turkmenistan:

(i) income tax (income) of legal entities;

(ii) income tax;

(iii) property tax; (hereinafter referred to as as "taxes of Turkmenistan").

4. The convention is applied also to all identical or similar taxes which will be, are levied in addition to the existing taxes, or instead of them, after signature date of this Convention. Competent authorities of Contracting States will notify each other on the basic changes made to their corresponding tax legislations.

Section 2. Determinations

Article 3. GENERAL DETERMINATIONS

1. For the purposes of this Convention if other does not follow from context:

a) the term "person" includes physical person, the company and any other consolidation of persons;

b) the term "company" means any corporate education, or any other consolidation which for the purposes of the taxation is considered as corporate education;

c) the term "company" is applied to implementation of any kind of activities;

d) expression "the company of one Contracting State" and "the company of other Contracting State" mean respectively the company managed by resident of one Contracting State and the company managed by resident of other Contracting State;

e) the term "international delivery" means any transportation sea, air, railway or automobile the vehicles operated by the company which actual governing body is in one Contracting State, except cases when such transportation is performed only between the Items located in other Contracting State;

f) the term means "competent authority":

(i) in the Republic of Tajikistan - the Ministry of Finance or its authorized representative;

(ii) in Turkmenistan - the Ministry of Economics and finance and the Main State Tax Service or their plenipotentiary.

g) the term "national person" means:

(i) any physical person having nationality of the Contracting State;

(ii) any legal entity, or the association which received such status based on the current legislation of the Contracting State.

h) the term "activities" includes provision of professional services and other activities of independent nature;

i) the term "Tajikistan" means the Republic of Tajikistan, and when using: in geographical sense includes its territory, internal waters, airspace over them where the Republic of Tajikistan can perform the sovereign rights and jurisdiction, including the rights on use of subsoil and natural resources according to rules of international law and where the legislation of the Republic of Tajikistan is effective.

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