Сonstruction and tourist companies in Avaza exempt from VAT

Quoting an official from the Tax Revenue Department of Turkmenistan’s Finance Ministry Toily Myalikov the news outlet SNG.Today reports that tax incentives has been granted to companies operating in the recreational zone Avaza.

According to Myalikov, businesses operating in the national recreation zone are exempt from value-added tax.These tax breaks apply to revenue generated from construction of new tourist facilities or services rendered and their infrastructure in Avaza and outside as well as revenue generated from rendering hospitality services, including accommodation, catering, individual consumer and health and recreational services, entertainment (except gambling) and other tourism-related services.

Moreover, incentives are provided for the sale of merchandise to retail business entities located on the territory of the national recreational zone or on the territory which hold the status of businesses operating in the national recreational zone. The abovementioned applies to property used to perform construction and installation works in the aforementioned zones.

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