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OSCE Centre in Ashgabad holds roundtable on taxation
ASHGABAD 23 June 2003
ASHGABAD, 23 June 2003 - A recent OSCE-organized roundtable focussed on the taxation of legal entities in the light of institutional development in Turkmenistan.
Main topics of the event included questions related to current tax legislation and its shortcomings, tax policy of the state towards private enterprises, as well as purpose and structure of taxes.
The participants at the roundtable, which was organized by the OSCE Centre and the Turkmen Union of Entrepreneurs, agreed that in order to enliven the private sector it was needed to increase the budget revenue from private enterprises, a more balanced tax policy and the adoption of a tax code. The budget revenue from private enterprises currently constitutes only 1 per cent of the country's total budget.
The participants, which included businessmen, tax officials, representatives of international organizations and the media, also stressed the need for such fora as an effective tool for co-operation between government and private enterprises.
The roundtable concludes a series of three meetings dedicated to overcoming administrative barriers for small and medium-sized enterprises (SMEs) in Turkmenistan. Following the first two events, which addressed issues of registration and licensing of SMEs, a Co-ordination Council meeting under the Ministry of Economy and Finance was held.
Registration of SMEs, licensing, recommendations and proposals of two further roundtable meetings were among the agenda of this event. The meeting resulted in a reduction of the registration fees for SMEs, and the limitation of activities as well as the names of enterprises indicated in licenses was abolished. A document about transferring the issuance of licenses to the State Standardization Committee is under preparation.
Main topics of the event included questions related to current tax legislation and its shortcomings, tax policy of the state towards private enterprises, as well as purpose and structure of taxes.
The participants at the roundtable, which was organized by the OSCE Centre and the Turkmen Union of Entrepreneurs, agreed that in order to enliven the private sector it was needed to increase the budget revenue from private enterprises, a more balanced tax policy and the adoption of a tax code. The budget revenue from private enterprises currently constitutes only 1 per cent of the country's total budget.
The participants, which included businessmen, tax officials, representatives of international organizations and the media, also stressed the need for such fora as an effective tool for co-operation between government and private enterprises.
The roundtable concludes a series of three meetings dedicated to overcoming administrative barriers for small and medium-sized enterprises (SMEs) in Turkmenistan. Following the first two events, which addressed issues of registration and licensing of SMEs, a Co-ordination Council meeting under the Ministry of Economy and Finance was held.
Registration of SMEs, licensing, recommendations and proposals of two further roundtable meetings were among the agenda of this event. The meeting resulted in a reduction of the registration fees for SMEs, and the limitation of activities as well as the names of enterprises indicated in licenses was abolished. A document about transferring the issuance of licenses to the State Standardization Committee is under preparation.