Taxes in Turkmenistan
Company-turkmenistan.com’s tax advisors either establish clients’ tariff statements or offer tips and guidance to assist them in completing their own. We provide answers to clients’ problems, assist businesses in planning for future tax issues, and analyze data to verify that they conform with Turkmen government regulations.
Tax solutions in Turkmenistan
Levy reduction, consultation, registration, or returns are all handled by our experts.
Tax optimization
To lower income dues, levies, and other charges, tax experts establish the appropriate liability planning policies. Our firm offers the most cost-effective structure for reducing tax liabilities and payments.
Tax consultation
Our business solution network’s levy consultants can help you reduce your tax burden and handle your excise condition. Our tariff experts can assist you with financial planning, succession concerns, charitable works, and other complicated levy challenges.
VAT registration
The professionals provide low-cost registration services. We’ll compile and send your VAT registry form to officials, and if it’s approved, we’ll email you verification of your VAT Licensing Id.
Bookkeeping
The bookkeeping solutions entail keeping a record of a company’s accounting activities and utilizing the payment and loan method to make entries to specified funds.
Applying for tax return
The accountants will draft and file your tariff returns on your account with state lawmakers. Specialists present required documentation for tax returns, such as investment income statements and sponsorships.
Register as a taxpayer
Consultants send your financial statements to the state to register you and your company with tax officials. The professionals will also accompany you to appointments with the duty office.
System of taxes and fees in Turkmenistan
Citizens in Turkmenistan are charged on their worldwide earnings, which include benefits such as food, accommodation, transportation, and so on. Non-residents are only responsible for gains made using local resources. The following are the several sorts of tariffs that a person must pay in the country:
Tax rates
The table below outlines several of the most prevalent types of taxes along with their corresponding rates.
| Tax | Tax Rate |
|---|---|
| VAT | 15% |
| Corporate income tax | 8% – 20% |
| Personal income tax | 10% |
| Dividend tax | 15% (Company) / 10% (Individual) |
| Capital Gains tax | 8%(under corporate or personal tax) |
| Property tax | 1% |
| Inheritance tax | 0% |
| International tax | 0% – 20% (Varies based on tax treaties, domestic law and tax type) |
| Cryptocurrency tax | Not defined |
Request bookkeeping solution
Manage bills, expenses, and invoicing all in one place to save time. Request our professional bookkeeping services to create detailed dynamic accounts and get your statistics just the way you want them.
Bookkeeping
Contact our team of veteran specialists, who are committed to sharing their knowledge and insight, which is customized to each client’s unique financial position. We aim to provide our customers with the most duty reduction possible while drafting and completing their tariff returns.
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Disclaimer
Tax laws and regulations are in a state of constant evolution and can differ depending on personal circumstances. The information presented here is intended for general informational purposes and may not represent the latest updates. It is strongly advisable to seek the assistance of a qualified tax professional for specific, detailed, and current advice tailored to your situation.