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RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of December 29, 2017 No. PP-3454

About the forecast of the main macroeconomic indicators and parameters of the Government budget of the Republic of Uzbekistan for 2018

(as amended on 02-03-2021)

[Extraction]

In pursuance of resolutions of Legislative house of Oliy Majlis of the Republic of Uzbekistan of December 13, 2017 No. 1341-III "About the Government budget of the Republic of Uzbekistan, budgets of the state trust funds and the main directions of tax and budget policy for 2018" and the Senate of the Oliy Majlis of the Republic of Uzbekistan of December 20, 2017 No. PS-241-III "About the Government budget of the Republic of Uzbekistan, budgets of the state trust funds and the main directions of tax and budget policy for 2018":

1. Approve:

the forecast of the main macroeconomic indicators of development of the Republic of Uzbekistan for 2018 according to appendix No. 1; *

key parameters of the Government budget of the Republic of Uzbekistan for 2018 according to appendix No. 2; *

key parameters of the off-budget Pension fund under the Ministry of Finance of the Republic of Uzbekistan (further - the Pension fund), Republican road fund under the Cabinet of Ministers of the Republic of Uzbekistan (further - Republican road fund), off-budget fund of development of material and technical resources of educational and medical institutions under the Ministry of Finance of the Republic of Uzbekistan (further - Fund of development of material and technical resources of educational and medical institutions), Fund of meliorative improvement of the irrigated lands under the Cabinet of Ministers of the Republic of Uzbekistan for 2018 according to appendices No. No. 3 - 6. *

* Appendices No. No. 1 - 6 are not given.

2. Determine that the Government budget of the Republic of Uzbekistan for 2018 is predicted with surplus in percent 0,02 to amount of gross domestic product.

3. Approve rates for 2018:

the income tax of legal entities, taking into account consolidation with tax on improvement and development of social infrastructure, according to appendix No. 7;

income tax according to appendix No. 8;

single tax payment according to appendices No. 9-1, 9-2 and 9-3;

the fixed tax by separate types of business activity on legal entities and individual entrepreneurs according to appendix No. 10;

the fixed tax on individual entrepreneurs according to appendix No. 11;

tax on the income paid in the form of dividends and percent to residents of the Republic of Uzbekistan in the amount of 10 percent;

the value added tax in the amount of 20 percent;

the excise tax on the excise goods made in the Republic of Uzbekistan and delivered on its territory according to lists according to appendices No. 12-1 and 12-2;

Ceased to be valid according to the Resolution of the President of the Republic of Uzbekistan of 02.07.2018 No. PP-3823

tax for use of natural resources according to appendix No. 14;

subscription bonus and bonus of commercial detection according to appendices No. 15-1 and 15-2;

the excess profit tax by separate types of products according to appendix No. 16;

the property tax of legal entities and physical persons according to appendices No. 17 and 18;

the land tax from legal entities and physical persons according to appendix No. 19;

the single land tax according to appendix No. 20;

the local taxes and charges according to appendix No. 21;

charges and contributions to Republican road fund according to appendix No. 22;

single social payment, with distribution of means between the Pension fund, the State fund of assistance of employment of the Republic of Uzbekistan and the Federation Council of labor unions of Uzbekistan according to standard rates, according to appendix No. 23;

compulsory insurance premiums of citizens in the Pension fund in the amount of 8 percent.

4. Unite obligatory contributions to the Pension fund, Republican road fund and Fund of development of material and technical resources of educational and medical institutions to single payment - obligatory contributions to the state trust funds with establishment of rate in the amount of percent 3,2.

Distribution of obligatory assignments between the Pension fund, Republican road fund, Fund of development of material and technical resources of educational and medical institutions is performed according to standard rates according to appendix No. 24.

5. Determine that since January 1, 2018 procurement organizations pay single tax payment from goods turnover at the established rate.

6. Increase since January 1, 2018 the size of the compulsory contributions transferred into individual accumulation retirement accounts of citizens, with establishment in the amount of 2 percent and reduction of tax amount by the income of physical persons, subject to payment in the budget, by the amount of the means transferred into individual accumulation retirement accounts of citizens.

7. Ceased to be valid according to the Resolution of the President of the Republic of Uzbekistan of 26.12.2018 No. PP-4086

8. Ceased to be valid according to the Resolution of the President of the Republic of Uzbekistan of 26.12.2018 No. PP-4086

9. Determine that receipts from single tax payment are distributed between the Government budget of the Republic of Uzbekistan, the Pension fund, Republican road fund and Fund of development of material and technical resources of educational and medical institutions in the sizes determined by the Ministry of Finance of the Republic of Uzbekistan.

Provide that on microfirms and small enterprises distribution of receipts from single tax payment between the Government budget of the Republic of Uzbekistan and the Pension fund, Republican road fund, Fund of development of material and technical resources of educational and medical institutions is performed less assignments of 8 percent from the amount of single tax payment according to the procedure, established by the Ministry of Finance of the Republic of Uzbekistan. At the same time, part of the means arriving from the amount of single tax payment in the amount of 8 percent goes to Fund of the Union of youth of Uzbekistan and the Federation Council of the labor unions of Uzbekistan for expense budget approved with the Ministry of Finance of the Republic of Uzbekistan.

Determine that distribution of means is performed from the amounts of single tax payment which arrived after February 1, 2018.

10. Grant to non-profit organizations the right since January 1, 2018 to pay single tax payment according to the procedure, provided for microfirms and small enterprises, regarding income gained by them from business activity irrespective of the number of workers.

11. Determine that since January 1, 2018 the property tax of physical persons is estimated proceeding from the cadastral real estate value determined according to the legislation.

To the Cabinet of Ministers of the Republic of Uzbekistan to approve procedure for determination of cadastral real estate value of physical persons for the purpose of the taxation in a month.

For the purpose of non-admission of sharp growth of the tax load after transition to the property taxation proceeding from cadastral cost to provide that the tax amount on property of physical persons estimated based on cadastral cost cannot exceed tax amount, added for 2017, more than in time 1,2.

12. Determine that the taxation of the income from property leasing is performed proceeding from the sum of the rent determined by the agreement, but not below calculated, proceeding from:

minimum rates of the rent for use of real state-owned property - for legal entities;

the minimum rates of the rent established according to appendix No. 25, - for the physical persons leasing property.

13. Establish since January 1, 2018 the amount of payment for use of subscriber number by the legal entities rendering of mobile service (mobile radiotelephone companies), 4 000 bags a month with distribution of means according to appendix No. 26.

14. Approve the minimum sizes of tax debt for the address of claim to property of taxpayers according to appendix No. 27.

22. To the Ministry of Finance in 2018 to perform release into the stream of commerce of the government treasury bonds of the Republic of Uzbekistan with the direction of the proceeds on implementation of actions aimed at the social and economic development of the country, and also the large investment projects determined by decisions of the President of the Republic of Uzbekistan, having provided in parameters of the Government budget of means, necessary on interest payment.

23. Exempt till January 1, 2023:

the state-financed organizations gaining additional incomes from the sources specified in Articles 60 - 63 Budget codes of the Republic of Uzbekistan, from all types of collectable taxes

the foreign highest educational institutions accredited in the Republic of Uzbekistan from payment of all types of tax and obligatory contributions to the state trust funds within their educational activities performed in the Republic of Uzbekistan and also single social payment and income tax regarding the salary fund of foreign workers.

24. Determine the main directions of enhancement of the interbudget relations:

strengthening of responsibility of public authorities on places, financial and tax authorities for strengthening of profitable base, timely and target financing of the approved parameters of expenses of local budgets, ensuring further development and content up to standard objects of the social sphere and infrastructure;

accurate differentiation of the budget powers of public authorities on places regarding forming of the income of the relevant budgets;

activization of activities of public authorities on places in expansion of own profitable base due to leaving at their order of receipts on some types of tax and charges;

distribution between the republican budget and the budget of the Republic of Karakalpakstan, regional budgets of areas, budgets of areas and cities of the receipts for some types of tax arriving from large taxpayers;

provision to public authorities on places of powers on decrease and increase in rates by separate types of the local taxes for ensuring uniform development of areas and cities;

increase in independence of public authorities on places in financing of expenses on development of social and economic infrastructure and contingencies.

25. Take into consideration information of the Ministry of Finance, Ministry of Economics and State Tax Committee of the Republic of Uzbekistan on achievement of positive results of experiment on increase in profitable powers and differentiation of payment commitments of public authorities on places according to the Presidential decree of the Republic of Uzbekistan of June 7, 2017 No. UP-5075 "About Measures for Expansion of Powers of Public Authorities on Places in Forming of Local Budgets" with prolongation of its action for Tashkent.

Extend since January 1, 2018 this procedure to the budget of the Republic of Karakalpakstan, local budgets of areas, having provided:

a) transfer in full following income:

in budgets of areas and cities - receipts on the fixed tax by separate types of business activity, the property tax of physical persons, the land tax on physical persons, to charges for the right of retail trade by separate types of goods and rendering separate types of service, the income arriving from the markets;

in the budget of the Republic of Karakalpakstan, local budgets of areas - receipts from the single land tax, land tax from legal entities, the property tax from legal entities, assignments of single tax payment, consumption tax of gasoline, diesel fuel and gas, the corresponding part of payment for use of subscriber number with their distribution between the republican budget of the Republic of Karakalpakstan, regional budgets of areas, budgets of areas and cities;

in the republican budget of the Republic of Karakalpakstan and regional budgets of areas - tax for use of water resources and the corresponding part of the state fee, except for the state fee for issue of licenses and patent fees, and also receipts from realization of the state assets and leasing of state-owned property in the amount of 25 percent;

b) distribution between the republican budget of the Republic of Uzbekistan, the budget of the Republic of Karakalpakstan and local budgets of areas according to the approved parameters of the Government budget of the Republic of Uzbekistan of receipts from income tax, the income tax of the legal entities except for levied from nonresidents at source of payment, the value added tax, the excise tax on the corresponding goods, tax for use of natural resources, the corresponding part of penalties and charges, and also leaving at the disposal of the relevant budgets of the amount of overfulfillment of the established forecasts of receipts from the deducted taxes in the corresponding part;

c) allocation of target social transfers from:

the republican budget of the Republic of Uzbekistan in the budget of the Republic of Karakalpakstan, local budgets of areas on payment of payroll costs and to single social payment of medical institutions and part of similar expenses of the educational institutions financed from budgets of areas and the cities;

the republican budget of the Republic of Karakalpakstan, regional budgets of areas in budgets of areas and cities on payment of the remaining part of payroll costs and to single social payment of the educational institutions financed from budgets of areas and the cities.

Determine that:

the amount of the allocated target social transfers on financing of the salary and single social payment of educational institutions and healthcare institutions is not subject to reduction irrespective of increase in profitable base of budgets of areas and cities;

balance of budgets of certain areas and cities is provided at the expense of the deducted generally established taxes in regional budgets taking into account their expenses created according to the budget legislation.

Grant the right to the Jokargi Kenes of the Republic of Karakalpakstan, Kengasham of People's Deputies of areas and the city of Tashkent in case of decision making according to amounts of the income and expenses of the budget of the Republic of Karakalpakstan, local budgets of areas and the city of Tashkent, budgets of areas and the cities to cover missing expense amount at the expense of income redistribution between the republican budget of the Republic of Karakalpakstan, regional budgets of areas and the city budget of the city of Tashkent, budgets of areas and cities.

26. Prohibit:

withdrawal in higher budgets of the amounts of overfulfillment of the forecast of the income from subordinate budgets on condition of accomplishment of the forecast of comprehensive incomes of the budget the accruing result on the corresponding administrative and territorial unit;

groundless expense reduction, provided in parameters of the budget of the Republic of Karakalpakstan, local budgets of areas and the city of Tashkent.

27. Warn the chairman of the board of Ministers of the Republic of Karakalpakstan, hokim of areas, areas and the cities about the personal responsibility for ensuring completeness of the income and timely financing of the expenses which are included into their budget power.

28. Grant since January 1, 2018 the right to Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas and the city of Tashkent, areas and cities in coordination with corresponding to Kengashami of People's Deputies:

create reserve funds of khokimiyats of areas and cities in the amount of 1 percent from the total amount of expenses of the relevant budgets for ensuring timely and uninterrupted financing within financial year additional, contingencies in economic, welfare and other spheres;

taking into account features of the region and place of implementation of activities to establish the lowering and raising coefficients from 0,7 to 1,3 to the established rates on the property tax of physical persons and the land tax from physical persons.

Determine that the budgetary appropriations optimized by territorial financial bodies in the course of execution of expense budgets on the fourth group go for increase according to reserve funds of the republican budget of the Republic of Karakalpakstan, regional budgets of areas and the city budget of the city of Tashkent, budgets of areas and the cities with use in accordance with the established procedure.

29. Determine that the cash gap between the income and expenses which resulted from failure to carry out of the approved parameters of the income of subordinate budgets becomes covered within financial year - by attraction of turnover cash and the non-interest budget advances allowed by the higher budget, and more than for one financial year - by provision by the higher budget of 2 percent budget advance for up to 2 years.

30. To the Ministry of Finance, the State Tax Committee, the State Customs Committee and the Ministry of Economics together with the National agency of project management in case of the President of the Republic of Uzbekistan till July 1, 2018 to make offers on tax rate reduction on value added taking into account cancellation of the provided privileges and expansion of circle of payers of this tax.

31. Cancel the privileges provided since April 1, 2018:

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