The income tax rate in Turkmenistan has been reduced for youth enterprises
The income tax rate in Turkmenistan for youth enterprises has now been reduced by 50% in the first and 25% in the second and third tax years. This follows from the amendments to the Tax Code of Turkmenistan, published on June 9 in the official Turkmen press.
Youth enterprises are those in which at least 75% of employees are under 35 years of age. Earlier, the Mejlis of the country voted for the adoption of amendments and changes.
The course to optimize and unlock the potential of youth entrepreneurship was outlined in September last year during the VII Congress of the Magtymguly Youth Organization of Turkmenistan with the participation of members of the government and President Serdar Berdimuhamedov. It is expected that these measures will stimulate the growth of the private sector of the economy.
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