Turkmenistan Tax Tables 2021 - Tax Rates and Thresholds in Turkmenistan

This page contains the tax table information used for the calculation of tax and payroll deductions in Turkmenistan in 2021. These tax tables are used for the tax and payroll calculators published on iCalculator™ TM, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Turkmenistan or would like to add to or suggest amendments to the information herein then please contact us.

Turkmenistan Personal Income Tax Tables in 2021

The Income tax rates and personal allowances in Turkmenistan are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Turkmenistan Tax Calculator 2021.

In Turkmenistan, social security deductions made by employees are typically considered deductible for the purpose of calculating taxable income. This means that the amounts contributed by employees towards the social security system can be subtracted from their gross income before income tax is calculated, thereby reducing their taxable income and, consequently, their overall tax liability. This practice is common in many countries as it encourages participation in the social security system while providing a tax benefit to the employees.

Turkmenistan Social Security and Payroll Deduction Rates in 2021

In Turkmenistan, the social security and payroll deduction system is an integral part of the country's welfare system, designed to provide various benefits to workers and their families. This system is funded through contributions from both employees and employers, covering a range of social security benefits including pensions, healthcare, maternity benefits, and support in case of disability or loss of the breadwinner. The contributions made by both parties ensure the functioning of the social welfare system, aiming to protect the well-being of the workforce and provide financial security in various circumstances.

Turkmenistan VAT Rates in 2021

VAT rates for Turkmenistan are reviewed annually, you can use the VAT Calculator to calculate VAT due in Turkmenistan or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Historic Tax Tables supported for Turkmenistan

The following tax tables are supported by iCalculator™ TM as part of the suite of free tax tools we provide for Turkmenistan.