Turkmenistan, Germany exchange tools on financial deal ratification

Turkmenistan Materials 29 November 2017 10:41 (UTC +04:00)

Ashgabat, Turkmenistan, Nov. 29

By Huseyn Hasanov – Trend:

Turkmenistan and Germany exchanged ratification instruments on the approval of the intergovernmental agreement on the elimination of double taxation with regard to taxes on income and property, the Turkmen Dovlet Habarlary state news agency reported.

As of 2016, 167 investment projects and contracts involving German capital were registered in Turkmenistan, totaling $540 million and about 555 million euros.

German companies make a significant contribution to the implementation of long-term projects in Turkmenistan. Such companies as Siemens, Daimler, Claas, Rohde & Schwarz, Dresser-Rand are among them.

The agreement with Germany to avoid double taxation with respect to taxes on income and property was signed during the two-day (August 29-30, 2016) visit of Turkmen President Gurbanguly Berdimuhamedov to Germany.