Update - Turkmenistan Approves Tax Treaty with the Czech Republic

On 18 June 2016, the Turkmenistan parliament approved for ratification the pending income and capital tax treaty with the Czech Republic. The treaty, signed 18 March 2016, is the first of its kind between the two countries.

Taxes Covered

The treaty covers Czech tax on income of individuals, tax on income of legal persons, and tax on immovable property. It covers Turkmen profits tax, individual income tax, and property tax.

Service PE

The treaty includes the provision that a permanent es…