Turkmenistan provides agricultural producers with tax incentives

Business Materials 21 February 2018 17:07 (UTC +04:00)

Ashgabat, Turkmenistan, Feb. 21

By Huseyn Hasanov - Trend:

State subsidies and tax incentives serve as a real incentive for Turkmenistan's agricultural producers, Turkmen Dovlet Habarlary (TDH) state news agency reported Feb. 21.

In particular, a minimum payment for land has been set for farmers. Farmers have been fully exempt from taxes.

The country’s banks have been allowed to provide agricultural joint-stock companies, research institutes, entrepreneurs producing agricultural products and non-state legal entities with preferential loans since March 2017.

Those loans are allocated for the purchase of agricultural machinery, mechanisms and tools, water saving equipment for a period of ten years at one percent per annum.

Preferential loans for a period of up to ten years at five percent per annum can be obtained for the implementation of investment projects for the development of livestock and poultry, as well as for the purchase of fixed assets and property.