RESOLUTION OF THE PRESIDENT OF TURKMENISTAN

of April 4, 2001 No. 5201

About improvement of activities of the State fund of development of agricultural industry of Turkmenistan

For the purpose of strengthening of support of development of production of agricultural products and assistance in ensuring food independence of the country with the State fund of development of agricultural industry of Turkmenistan I decide:

1. To open for Central Bank of Turkmenistan the special account for transfer of the money arriving from the companies and the organizations on account of payment of 3 percent contributions from balance sheet profit to the State fund of development of agricultural industry of Turkmenistan.

To make expenses from the special account according to the Regulations on the State fund of development of agricultural industry of Turkmenistan approved by the resolution of the President of Turkmenistan of February 24, 2000 No. 4588 "About strengthening of responsibility of heads of the ministries and departments of the agrarian sector for financial position of jurisdictional enterprises and organizations" (Collection of acts of the President of Turkmenistan and decisions of the Government of Turkmenistan, 2000, No. 2, the Art. 120).

2. Confer on the Main State Tax Service of Turkmenistan responsibility for ensuring the correct calculation and timely payment of 3 percent assignments from balance sheet profit by the companies and the organizations in the State fund of development of agricultural industry of Turkmenistan.

3. To represent to the main State Tax Service of Turkmenistan in case of untimely payment of 3 percent assignments from balance sheet profit according to the current legislation to organizations of banks of Turkmenistan orders about indisputable cash write-off from all accounts of the companies and organizatsiyplatelshchik for benefit of the State fund of development of agricultural industry of Turkmenistan.

For untimely transfer of 3 percent assignments from balance sheet profit by the companies and the organizations to collect from them percent 0,1 penalty fee for each day of delay from the amount of the main debt.

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