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8.2.1. Corporate/Profit Taxes

A non-resident entity having a branch or a permanent establishment ('PE') in Turkmenistan is subject to tax on income earned by such branch or PE in Turkmenistan at the rate of 20%.

Branches or PEs of non-resident entities (excluding contractors and sub-contractors of oil and gas companies) are required to contribute to Agriculture Development Fund at the rate of 3% of accounting income and to the Ashgabat City Development Fund at the rate of 0.5% of accounting income.

Turkmenistan sourced income earned by non-residents not having a branch or a PE in Turkmenistan is subject to withholding tax in the country (See Sec. 8.2.3. below).