The Tax Code of Turkmenistan establishes the system of taxes levied to the State budget of Turkmenistan, the general principles of taxation, the grounds for emergence (change, termination) and procedures for fulfilling tax payment obligations, the rights and obligations of taxpayers and tax authorities, the forms and methods of tax control, responsibility for violations of Turkmenistan tax legislation, and appealing the decisions of tax authorities and the actions of their officials.
Turkmenistan's tax legislation is based on the recognition of the universality and equality of taxation.
Every individual has an obligation to pay the taxes laid down in the Tax Code with respect to which that individual is recognized as a taxpayer.
Acts of tax legislation of Turkmenistan which establish new taxes, increase tax rates or otherwise worsen the situation of taxpayers and tax agents and increase responsibility for tax offences do not have retroactive effect.
Acts of tax legislation of Turkmenistan abolishing taxes, reducing the tax rates or otherwise improving the situation of taxpayers, tax agents, mitigating the responsibility for tax offenses shall have retroactive effect, if it is expressly provided for in these acts.
Tax and its attributes
Tax is a compulsory, individually gratuitous payment established and collected by the state from individuals and legal entities for the purpose of financial provision of state activity, which goes to the State budget of Turkmenistan.
Tax is determined by the presence of the following attributes:
- category of taxpayers;
- object of taxation;
- taxable base; - taxation object; - taxation base;
- tax rate (rates);
- terms and procedure of tax calculation and payment.
When establishing the tax, the reporting (tax) period may be defined, as well as tax benefits and grounds for their use by the taxpayer.
Taxes established by the Tax Code shall be valid on the whole territory of Turkmenistan.
Fees and charges are recognized as a special type of taxes and may not have certain features of a tax.
Contributions and other payments made by virtue of contracts or other relations of a civil-law nature, as well as payments in the form of fines or other sanctions for violation of the legislation of Turkmenistan shall not be recognized as taxes.
Monetary unit for the calculation and payment of taxes
Taxes are calculated and paid in the national currency of Turkmenistan, unless otherwise stipulated by the legislation of Turkmenistan.
Payment of taxes by non-resident legal entities of Turkmenistan, including through tax agents, may be carried out in foreign (freely convertible) currency.
Any transaction in foreign currency for tax purposes shall be recalculated in the national currency of Turkmenistan at the official rate of the Central Bank of Turkmenistan on the date of the transaction, and for currencies for which there is no official rate – at cross – rates to the U.S. dollar, unless otherwise provided by this Code.
Amendments and additions to the Tax Code
The following additions and amendments were made to the Tax Code adopted on October 25, 2004.
Changes in the text of articles 27, 29, 52, 53, additions and amendments to articles 106, 122, 143, 187, 207, 210, 217, 224.
The additions and amendments were published in the Neytralnyi Turkmenistan newspaper No. 100 (30133) on April 20, 2022.