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LAW OF TURKMENISTAN

of December 14, 2007 No. 152-III

About the Government budget of Turkmenistan for 2008

Article 1

Approve the Government budget of Turkmenistan for 2008 according to the income in the amount 118169, in one billion manats and on expenses in the amount 123369, in 9 billion manats, including on budget receipts of the first level in the amount 25603, in 8 billion manats and on expenses of the budget of the first level in the amount 30803, in 8 billion manats.

Article 2

Establish limit of central government budget deficit of Turkmenistan for 2008 in the amount 5200, of 0 billion manats. Determine that source of financing of central government budget deficit is remaining balance of means of the Government budget of Turkmenistan as of 1 Turkmenbashi of 2008.

Article 3

Approve the Centralized budget of Turkmenistan for 2008 according to the income in the amount 109941, by 2 billion manats and on expenses in the amount 115141, one billion manats, including on budget receipts of the first level in the amount 17375, 1 billion manats and on expenses of the budget of the first level in the amount 22575, 1 billion manats.

Article 4

Establish for 2008 standard rates of contributions from nation-wide taxes to city budgets of Ashgabat and welayats in the following sizes:

+-------------------------------------------------------------------+
¦                        ¦от налога     ¦ от налога  ¦ от налога за ¦
¦                        ¦на добавленную¦ на прибыль ¦ пользование  ¦
¦                        ¦стоимость     ¦ недрами    ¦              ¦
+------------------------+--------------+------------+--------------¦
¦город Ашхабад           ¦    23%       ¦     24%    ¦     -        ¦
¦Ахалский велаят         ¦    31%       ¦     32%    ¦    31%       ¦
¦Балканский велаят       ¦    10%       ¦     11%    ¦    10%       ¦
¦Дашогузский велаят      ¦    95%       ¦     95%    ¦    95%       ¦
¦Лебапский велаят        ¦    95%       ¦     95%    
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