Financial statements from Turkmenistan

Schmidt & Schmidt offers financial statements from Thailand in electronic form and their translations into English.

According to the current legislation, companies registered in Turkmenistan are required to submit annual financial statements.

The filing of financial statements in Turkmenistan is regulated by the Law on Accounting and Financial Reporting and other regulatory legal acts.

Turkmenistan currently uses national accounting standards. In the future, it is planned to switch to International Financial Reporting Standards (IFRS).

Companies are required to submit annual financial reports to state statistics and state tax authorities at the place of registration.

Filing of financial statements is mandatory for:

• Joint-stock companies
• Joint-stock commercial banks
• Investment funds

Access to the financial statements of the vast majority of Turkmen companies is possible only with the permission of the companies themselves or by a decision of local law enforcement agencies. Information is not available to third parties.

A financial statement includes:

• Balance sheet
• Profit and loss report
• Statement of changes in equity
• Cash flow
• Notes

Annual reports of some companies can be obtained through the relevant media and Internet resources.

To request information you need to know the full name of the company, its tax number and legal address.

Financial statements provide detailed information about a company’s financial state, solvency and performance of an enterprise.

Financial statements can provide valuable information about potential business partner which can be used for making decisions like purchasing capital shares or goods or taking legal action to collect debts.

Financial statements are provided in accordance with Turkmenian legislation and legal requirements on personal data protection.

On our website, you can make a preliminary request if a certain company’s financial statements are obtainable.