According to an update from UK HMRC, the income and capital tax treaty with Turkmenistan entered into force on 19 December 2016. The treaty, signed 10 June 2016, is the first of its kind directly between the two countries. It replaces the 1985 tax treaty between the UK and the former Soviet Union, which had continued to apply in respect of Turkmenistan. Taxes Covered The treaty covers Turkmen profits tax and individual income tax, and covers UK income tax, corporation tax, and capital gains tax. Residence If a company is considered resident in both Contracting States, the competent authorities will...