Approved by the Resolution of the President of Turkmenistan of July 21, 1995 No. 2293

Regulations on application of economic sanctions for violations of the state discipline of the prices

1. General provisions

1. This Provision extends to the companies, organizations and the organizations (*) of all patterns of ownership, being in the territory of Turkmenistan.

2. Economic sanctions are applied to the companies which received illegal revenue (income) due to overestimate of the prices in case of their establishment and application, in case of violations of procedure of payments with buyers in all links of passing of products, goods and services from production to consumers and also in case of non-compliance with the legislation on pricing.

3. Treat violations of the state discipline of the prices on which economic sanctions are applied:

- overestimate of the prices against their limits;

- use of free prices in the presence of regulated;

- non-presentation or provision in the reduced size of discounts, charge of unforeseen markups (capes) to the prices (rates) or their charge in the sizes exceeding limiting;

- exceeding of normative levels of profitability when pricing and rates for products and goods (services) by producers of public sector and the companies performing trading activity irrespective of patterns of ownership - on the total amount of profit on realization;

- inclusion in the cost of services of actually not performed works or executed not in full, considered in the cost of these services;

- use of the prices, rates (markups) established by the companies which product quality and the service level does not correspond to the characteristics provided in case of price fixation and rates;

- application of the different allowances to the wholesale and holiday (purchased) prices in retail and wholesale trade which are not provided and basic provisions on structure of the costs included in costs;

- collection by the supplying and intermediary organizations (except state) payments over the transfers paid for limits of Turkmenistan in different funds (fund of development of production and others), meaning that the state companies pay it at the expense of already created funds;

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