Letter of the Main state tax authorities of Turkmenistan

Ref. No. 3874/1 to the State inspections of Turkmenistan, tax from December 18, 1997

The main state tax authorities of Turkmenistan in coordination with the Ministry of Economics and finance of Turkmenistan inform the following.

According to the Law of Turkmenistan "About the income tax", and also the Law of Turkmenistan "About financial accounting" establishes the following procedure for submission by foreign legal entities of accounting records, and also tax declarations by calculation of the income tax (income).

The foreign legal entities performing activities in the territory of Turkmenistan through representations regardless of provisions of international agreements concerning elimination of double taxation, shall keep financial accounting and quarterly represent to tax authorities in the place of activities in the territory of Turkmenistan the established accounting reports, and also tax declarations under calculation of the income tax (income) and other necessary documents and data connected with calculation and tax payment, quarterly (for the first quarter, half-year and nine months) till 1 number of the second month following reporting quarter, and annual accounting reports and the tax declaration under calculation of the income tax (income) - no later than March 15 of the following after accounting year.

Upon termination of the first quarter, half-year, nine months and year the specified payers independently estimate with the accruing result since the beginning of year tax amount on profit (income), proceeding from the amount of the profit (income) which is actually got by them for the accounting period, taxable, tax benefits and the established rates of tax and bring in the budget in five-day time from the date of, established for submission of the reporting.

Terms of submission of the declaration for reporting quarter, and also the tax payment due dates falling on day off (non-working) or holiday, are transferred to the first working day after day off or holiday.

The specified procedure is entered since January 1, 1998 and applied taking into account other provisions on the matter established by the Main state tax authorities of Turkmenistan and the Ministry of Economics and finance of Turkmenistan.

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