Approved as the Deputy chief of the Main State Tax Service of Turkmenistan and the Deputy minister of economy and finance of Turkmenistan on September 29, 2000 No. 27

The instruction about procedure for calculation and tax discharge on property

I. General provisions

This Instruction is developed according to the Regulations on procedure for calculation and the tax discharge on property approved by the Resolution of the President of Turkmenistan of September 8, 2000 No. 4828 "About measures for enhancement of the taxation system of Turkmenistan" and other legal acts of Turkmenistan.

The property tax is paid for the account of the earnings before tax on profit.

The property tax is paid in currency of Turkmenistan and enlisted in the income of the Government budget of Turkmenistan.

II. Taxpayers on property

1. Taxpayers on property legal persons who on the property right belong the property which is the taxation object according to Item 3 of this Instruction are recognized. The companies of the state pattern of ownership to which the property belongs on the right of complete economic maintaining also treat the specified legal entities.

The property tax is paid in centralized procedure in the cases established by the Cabinet of Ministers of Turkmenistan.

2. The legal entities who are contractors and subcontractors according to the Law of Turkmenistan "About hydrocarbonic resources" are not taxpayers on property.

When implementing by specified persons of the activities which are not relating to oil works concerning the property used for such activities action of Item 1 of this Instruction extends to them.

III. Taxation object and tax base

3. The taxation object, except for the property specified in item 4 of this Instruction are:

a) for the legal entity - the resident of Turkmenistan (the legal entity founded and registered according to the legislation of Turkmenistan):

property, plant and equipment (funds) of production and non-productive appointment;

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