Enlightenment of taxation matters is part of common legal culture of society, which improvement as said by President Gurbanguly Berdimuhamedov, is one of the most important issue of formation of market system, growth of investments, rapid development of native business, appearance of new types and forms of economic activity and financial mechanisms.
“Tax system of Turkmenistan” magazine, published by the Head State tax service and, first of all, addressing professional audience – tax branches and department workers, accountants, auditors, consultants, entrepreneurs, leaders of organizations and also foreign businessmen and experts, serves this purpose.
“Fiscal meaning of value-added tax in tax policy of Turkmenistan” publishing explaining the concept of indirect tax in financial and economic system of the country and related provisions of the Tax Code of the state became main article of another issue. The article speaks of the certain subjects related to taxable financial operations and exemption from value-added tax (VAT).
For instance, the Tax Code of Turkmenistan stipulates that investment pension funds, public organizations of disabled people, educational institutions are not subjected to value-added tax during sales of production (except excisable goods). Further, broad spectrum of tax exemption is presented for the services, goods and activities considerably affecting the wellbeing of the population.
This list includes services of urban passenger transport, sale of medicines, healthcare services, dentistry (except cosmetology service of non-medical character), educational services, provision of food items, housing and communal services rendered to the people (including the rent payment).
Three kinds of VAT rates and types of applicable operations are described in the article. Related methods of payments and filing tax declaration on certain tax are given.
It is mentioned that value-added taxation promotes stable income to the state treasury, increase of sales rate (the faster production is sold, the faster money paid as tax would return to taxpayer) and favours the improvement of quality of production (the higher is quality of goods - it is easier for realization). Thus, the fact of apportionment of added value makes positive impact; all the elements of production price are clearly delimited stimulating cutting of production costs
Today, the country continues to improve national tax legislation in accordance with time demands, the simplification of tax system is carried out, which will be well understood not only by tax services employees but also by the taxpayers whose rights and interests are protected by the government.
The article on mandatory excise markings of tobacco and alcohol production according to the Resolution of President Gurbanguly Berdimuhamedov from April 1, 2016 is dedicated to the improvement of state regulation of sales and circulation of these products.
This document was adopted for compliance to the law of Turkmenistan on “Protection of public health from negative impact of tobacco smoke and effects of tobacco consumption”, State Tax Code of Turkmenistan and Action Plan for anti-tobacco for 2012 – 2016 as well as for exclusion of sale of counterfeit and contraband tobacco and alcohol goods. According to the Resolution, the sale of tobacco and alcohol goods not having the excite marks of Turkmenistan is prohibited from July 1, 2016 on the territory of Turkmenistan. In this relation, the Head State Tax Service presents the Regulation of excise duty markings of this production to the reader of the magazine.
There are many useful information in traditional heading “Question – Answers”, which provides some kind of express workshop for study of tax administration and control, application of tax legislation in different situation. It is remarkable that most of the questions are asked by private entrepreneurs including those who just started new businesses. Detailed and simplified answers of the specialists with links to the articles of tax legislation will be useful for many taxpayers, employers, individuals or entities of different form of ownership.
Thus, financial and economic publishing gives opportunity for broad reading auditorium to be informed of latest amendments in tax system, receive competent legal assistance from experienced specialists, enhance legal and tax knowledge, economic competence, helps to take weighed and well-grounded management decisions.
“Tax System of Turkmenistan” magazine published in Turkmen, English and Russian languages promotes the improvement of awareness of foreign experts and analysts of economic processes in our country based on reliable sources and documents and comments of leading tax experts.
The main feature of presenting the material in the magazine, which it is valued for, is something called “at the joint of theory and practice”, combination of deep scientific work and actuality of presented materials. All articles are prepared by the best specialists of tax regulation and envelop actually interesting subjects of taxation and written simply and clearly and well thought in details. The publishing has own layout style and business design.
The popularity of the magazine is stipulated by maximum proximity of its content to the requirements of society development, assignments of President Gurbanguly Berdimuhamedov to tax agencies of the country, national economy with its strong social orientation.
“Tax system of Turkmenistan” magazine, published by the Head State tax service and, first of all, addressing professional audience – tax branches and department workers, accountants, auditors, consultants, entrepreneurs, leaders of organizations and also foreign businessmen and experts, serves this purpose.
“Fiscal meaning of value-added tax in tax policy of Turkmenistan” publishing explaining the concept of indirect tax in financial and economic system of the country and related provisions of the Tax Code of the state became main article of another issue. The article speaks of the certain subjects related to taxable financial operations and exemption from value-added tax (VAT).
For instance, the Tax Code of Turkmenistan stipulates that investment pension funds, public organizations of disabled people, educational institutions are not subjected to value-added tax during sales of production (except excisable goods). Further, broad spectrum of tax exemption is presented for the services, goods and activities considerably affecting the wellbeing of the population.
This list includes services of urban passenger transport, sale of medicines, healthcare services, dentistry (except cosmetology service of non-medical character), educational services, provision of food items, housing and communal services rendered to the people (including the rent payment).
Three kinds of VAT rates and types of applicable operations are described in the article. Related methods of payments and filing tax declaration on certain tax are given.
It is mentioned that value-added taxation promotes stable income to the state treasury, increase of sales rate (the faster production is sold, the faster money paid as tax would return to taxpayer) and favours the improvement of quality of production (the higher is quality of goods - it is easier for realization). Thus, the fact of apportionment of added value makes positive impact; all the elements of production price are clearly delimited stimulating cutting of production costs
Today, the country continues to improve national tax legislation in accordance with time demands, the simplification of tax system is carried out, which will be well understood not only by tax services employees but also by the taxpayers whose rights and interests are protected by the government.
The article on mandatory excise markings of tobacco and alcohol production according to the Resolution of President Gurbanguly Berdimuhamedov from April 1, 2016 is dedicated to the improvement of state regulation of sales and circulation of these products.
This document was adopted for compliance to the law of Turkmenistan on “Protection of public health from negative impact of tobacco smoke and effects of tobacco consumption”, State Tax Code of Turkmenistan and Action Plan for anti-tobacco for 2012 – 2016 as well as for exclusion of sale of counterfeit and contraband tobacco and alcohol goods. According to the Resolution, the sale of tobacco and alcohol goods not having the excite marks of Turkmenistan is prohibited from July 1, 2016 on the territory of Turkmenistan. In this relation, the Head State Tax Service presents the Regulation of excise duty markings of this production to the reader of the magazine.
There are many useful information in traditional heading “Question – Answers”, which provides some kind of express workshop for study of tax administration and control, application of tax legislation in different situation. It is remarkable that most of the questions are asked by private entrepreneurs including those who just started new businesses. Detailed and simplified answers of the specialists with links to the articles of tax legislation will be useful for many taxpayers, employers, individuals or entities of different form of ownership.
Thus, financial and economic publishing gives opportunity for broad reading auditorium to be informed of latest amendments in tax system, receive competent legal assistance from experienced specialists, enhance legal and tax knowledge, economic competence, helps to take weighed and well-grounded management decisions.
“Tax System of Turkmenistan” magazine published in Turkmen, English and Russian languages promotes the improvement of awareness of foreign experts and analysts of economic processes in our country based on reliable sources and documents and comments of leading tax experts.
The main feature of presenting the material in the magazine, which it is valued for, is something called “at the joint of theory and practice”, combination of deep scientific work and actuality of presented materials. All articles are prepared by the best specialists of tax regulation and envelop actually interesting subjects of taxation and written simply and clearly and well thought in details. The publishing has own layout style and business design.
The popularity of the magazine is stipulated by maximum proximity of its content to the requirements of society development, assignments of President Gurbanguly Berdimuhamedov to tax agencies of the country, national economy with its strong social orientation.
