The Ministry of Finance of the Czech Republic announced that the agreement for the Avoidance of Double Taxation and Tax Evasion between the Czech Republic and Turkmenistan, which was signed in Ashgabat on 18 March 2016, has entered into force on 27 March 2018.
The provisions of the agreement will be applied as follows:
a) in case of taxes withheld at source, on amounts paid or credited on or after 1 January 2019;
b) in case of income and property taxes, to income or capital for each tax year beginning on or after 1 January 2019.
The Czech and the English texts of the Agreement are expected to be published in the Collection of International Treaties shortly.
Impact on investors: A new DTT between the Czech Republic and Turkmenistan has entered into force on 27 March 2018.
Related Newsflash: New DTT with Turkmenistan