The instruction about procedure for calculation and tax discharge on the income from assignment of rights on search and development of minerals of Turkmenistan

Approved by the Main state tax authorities of Turkmenistan on August 19, 1993 No. 9

I. General provisions

1. This instruction is developed according to the resolution of the President of Turkmenistan of August 5, 1993 No. 1433 "About the taxation of the income from assignment of rights on search and development of minerals of Turkmenistan".

2. Taxpayers on the income from assignment of rights on search and development of minerals of Turkmenistan are this income located in the territory of Turkmenistan and gaining:

a) the companies, the organizations, organizations and combinations of all patterns of ownership, being legal entities, including state-financed organizations *;

b) ministries and departments;

c) the companies with foreign investments **;

d) affiliated enterprises ***, located in the territory of Turkmenistan;

e) branches, departments and other separate divisions, not being legal entities, the companies and the organizations located out of the territory of Turkmenistan;

e) the companies, firms, any other organizations formed by the legislation of foreign states and having the permanent residence in these states (further the referred to as "foreign legal entities ****) which perform economic (commercial) activity through branches and representations.

(*) organizations and the organizations which main activities are fully or partially financed by budget funds based on the profit and loss budget (budget estimate) treat state-financed organizations.

(**) the companies with foreign investments are understood as the companies at which part of authorized fund is formed at the expense of foreign investments. Foreign investments can be performed in the form of foreign currency, currency values, the currency operating in the territory of Turkmenistan, personal and real estate and other material values, shares, bonds and other securities, the intellectual property having cost, etc.

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