Turkmenistan Cancels Export Duties For Private Businesses

BUSINESS TURKMENISTAN
Turkmenistan Cancels Export Duties For Private Businesses
Customs duties on goods exported from Turkmenistan, in the amount of 2% of their customs price, will be canceled from January 1, 2022.

Entrepreneurs and private companies operating in Turkmenistan will be released from paying export customs duties starting January 1, 2022.

President of Turkmenistan Gurbanguly Berdimuhamedov signed a relevant Resolution on Friday during a meeting of the Cabinet of Ministers in the Avaza National Tourist Zone, the official media of Turkmenistan reports.

The document states that customs duties on goods exported from Turkmenistan, except for hand luggage of individuals – private entrepreneurs and individuals engaged in entrepreneurial activities without forming a legal entity, in the amount of 2% of the customs price of such goods, will be canceled from January 1, 2022.

Contracts related to the export of goods and products manufactured by entrepreneurs and private companies, as well as the export of products (raw materials) purchased from them, can be concluded with or without participation in exchange trading.

The implementation of the Resolution is expected to contribute to the increase of exports from Turkmenistan by providing support to exporters.