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The United Nations Development Program (UNDP) in Turkmenistan, within the framework of a joint project with the Ministry of Finance and Economy of Turkmenistan "Platform for the Implementation of the SDGs, Phase III", held a webinar on the topic "Tax Regulation and World Trade Organization Rules: Practical Recommendations on How to Minimize Risks".

During the webinar, participants familiarized themselves with taxation issues within the framework of the WTO, including the principles of most-favored-nation treatment and national treatment in the context of their application in taxation. Additional tax obligations under the conditions of accession to the WTO by new members were analyzed in detail. Participants studied ways to minimize the risks of violating WTO rules in the process of developing tax legislation and applying these rules in the practice of tax administration. In addition, a strategy for maintaining and strengthening national sovereignty in taxation in the context of Turkmenistan's accession to the World Trade Organization was recommended.

"Taxation is a very sensitive area where any decisions and international obligations can have serious economic and social consequences. Knowledge of WTO rules, the practice of their application, understanding of risks, as well as mistakes of other acceding countries will allow us to thoroughly consider and prepare a strong negotiating position in advance in order to defend the national interests of Turkmenistan in the process of acceding to the WTO" emphasized Ms. Anait Smbatyan, UNDP international expert.

The event was attended by representatives of various ministries and departments of Turkmenistan, the Central Bank of Turkmenistan, and the Union of Industrialists and Entrepreneurs of Turkmenistan.

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Photo: provided by the United Nations Development Program (UNDP) in Turkmenistan