For Turkmenistan President Decree No 5207 dated April, 10, 2001 "Supplementary value-added tax remissions" to be applied

In accordance with Turkmenistan President Decree No 5207 dated April, 10, 2001"Supplementary value-added tax remissions" article 1 items as follows are exempted from value-added tax while customs clearance is effected:

• machines, mechanisms, equipment, vehicles and technical tools, being imported by legal entities upon cargo codes as follows: FEA CC 730410, 730421000, 730429, 7305, 730610, 730620000, 730630, 82, 84, 85, 86, 87, 88, 89, 90, as well as spare parts thereto, despite FEA CC cargo groups. If those cargoes are used not for production needs (transfer thereof to the subordinated kindergarten, etc.), a payer is to include cost thereof (delivery costs upto Turkmenistan customs border inclusive) to value-added tax turnover for that period under review, within which such disposal has taken place;

• chemical fertilizers, chemical facilities, lubricants upon cargo codes as follows: FEA CC 25, 27, 28, 29, 31, 3403, 360200000, 360300, 38, 39, imported to Turkmenistan by legal entities for the oil/gas and agricultural complex requirements, after being approved by Turkmenistan Ministry of Agriculture or Turkmenistan Ministry of Oil and Gas;

• building and finishing materials to effect construction (repair, reconstruction, modernization) of objects in accordance with Turkmenistan President resolutions, after being approved by Turkmenistan Ministry of construction and building materials industry for supplies expediency to Turkmenistan, taking technical, quality, esthetic properties and value into consideration.