A webinar on the topic “Tax regulation and World Trade Organization rules: practical recommendations on how to minimize risks” was held in Ashgabat.
The webinar was organized within the framework of the project “Platform for the implementation of SDGs, phase III”, which is being implemented by the Ministry of Finance and Economy of Turkmenistan jointly with the United Nations Development Program in Turkmenistan.
The event was attended by representatives of ministries and departments, banking institutions of Turkmenistan, the Union of Industrialists and Entrepreneurs of the country. Participants familiarized themselves with taxation issues within the WTO, including the principles of the most favored nation condition and national treatment in the context of their application in taxation. Additional tax obligations of new members in the context of accession to the World Trade Organization were analyzed in detail.
The international expert shared 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.
According to UNDP expert Anait Smbatyan, taxation is a very sensitive area where any decisions and international obligations can have serious economic and social consequences. Therefore, knowledge of WTO rules, the practice of their application, understanding of risks, as well as mistakes of other acceding countries will allow to think through in detail and prepare a negotiating position in advance in order to defend the national interests of Turkmenistan in the process of accession to the WTO.