Information about Turkmenistan Minimum wage and taxes.

Information about minimum wage and taxes in Turkmenistan is as follows: Minimum wage in Turkmenistan is determined by law. However, exact figures may change each year. As of 2021, the minimum wage in Turkmenistan has been determined as 1,500 Turkmen manats (TMT). The tax system in Turkmenistan is quite complex and tax rates may vary by sectors and income levels. In general, the income tax rate in Turkmenistan varies depending on the amount of income. High-income individuals pay higher taxes. Turkmenistan also has consumption taxes such as VAT (Value Added Tax). This tax rate is generally determined as 15%. It is a legal obligation to declare and pay taxes in Turkmenistan. For tax declaration and payment, declarations must be filled in on certain dates and applied to the relevant tax institution. This information is provided for general information purposes. Tax policies in Turkmenistan may change from time to time and it is important that you obtain accurate information from official authorities.

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