The agreement between the Government of the Russian Federation and the Government of Turkmenistan on elimination of double taxation concerning taxes on the income and property

of January 14, 1998

Government of the Russian Federation and Government of Turkmenistan,

wishing to sign the Agreement on elimination of double taxation concerning taxes on the income and property and for the purpose of development of economic cooperation between both States,

agreed as follows:

Article 1 of Person to which the Agreement is applied

This agreement is applied to persons who are residents of one or both Contracting States.

Article 2 Taxes to which the Agreement extends

1. This agreement is applied to the taxes on the income and property levied in Contracting States irrespective of method of their collection.

2. All taxes levied from the total amount of the income or property or on their separate elements, including taxes on the income from alienation of personal or real estate, and also the property increment value duties are considered as taxes on the income and property.

3. Taxes to which this agreement is applied, in particular, are:

- in the Russian Federation:

(i) income tax (income) of the companies and organizations;

(ii) the income tax from physical persons;

(iii) property tax of the companies; and

(iv) property tax of physical persons

(further the referred to as "taxes of the Russian Federation");

- in Turkmenistan:

(i) income tax (income);

(ii) the income tax from physical persons; and

(iii) property tax of the companies

(further the referred to as "taxes of Turkmenistan").

4. This agreement is applied also to any to similar or in essence to similar taxes which will be levied in any of Contracting States after signature date of this agreement in amendment or instead of the taxes specified in Item 3 of this Article. Competent authorities of Contracting States will notify each other on any essential changes in their corresponding tax legislation.

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