Turkmenistan to impose a tax on sole proprietors

The state information agency TDH reports that on 8 November, at the session of the Cabinet of Ministers Deputy Prime Minister overseeing economy and finance Gochmyrat Myradov briefed President Gurbanguly Berdymukhammedov on the work carried out to foster the development of the non-governmental sector of the economy.

Myradov said that the procedure for the registration of self-employed entrepreneurs who do business as sole proprietors is being drafted.

According to the official, the regulation is designed to streamline and regulate entrepreneurial business and improve legal taxation matters.

Berdymukhammedov, in his turn, stated that these measure promote small and medium business and are committed to creating conditions for free enterprise and competition.

Source: Chronicles of Turkmenistan