WNAM REPORT: A webinar on the topic “Tax regulation and rules of the World Trade Organization: practical recommendations on how to minimize risks” was held in Turkmenistan.
The event was organized by the United Nations Development Programme (UNDP) in Turkmenistan as part of a joint project with the Ministry of Finance and Economy of Turkmenistan “Platform for the Implementation of SDGs, Phase III,” according to a UNDP press release.
The participants of the seminar included representatives of the Government of Turkmenistan, including the Mejlis, the Ministry of Finance and Economy, the Tax Administration of the Ministry of Finance and Economy, the Ministry of Justice, the Ministry of Agriculture, the Ministry of Trade and Foreign Economic Activity, the State Customs Service, the Central Bank and the Union of Industrialists and Entrepreneurs of Turkmenistan.
The webinar participants were introduced to taxation issues within the WTO, including the principles of most-favored nation and national treatment in the context of their application in taxation. The key WTO tax disputes were examined in detail, and additional tax obligations were analyzed in the context of new members joining the WTO.
Participants also studied ways to minimize the risks of violating WTO rules when developing tax legislation and applying these rules in tax administration practice. In addition, a strategy was recommended for maintaining and strengthening national sovereignty in taxation in the context of Turkmenistan’s accession to the World Trade Organization.
UNDP international expert Anait Smbatyan noted during the seminar:
“Taxation is a very sensitive area, where any decisions and international obligations can have serious economic and social consequences. Knowledge of WTO rules, the practice of their application, understanding of the risks, as well as the mistakes of other acceding countries will allow us to think through in detail and prepare a strong negotiating position in advance to defend the national interests of Turkmenistan in the process of accession to the WTO.”
