RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of December 30, 2011 No. PP-1675

About the forecast of the main macroeconomic indicators and parameters of the Government budget of the Republic of Uzbekistan for 2012

(Extraction)

According to resolutions of Legislative house of Oliy Majlis of the Republic of Uzbekistan of November 18, 2011 No. 407-II "About the Government budget of the Republic of Uzbekistan for 2012" and Olyy Mazhlis's Senate of the Republic of Uzbekistan of December 5, 2011 No. 255-II "About the Government budget of the Republic of Uzbekistan for 2012":

1. Approve:

the forecast of the main macroeconomic indicators of development of the Republic of Uzbekistan for 2012 according to appendix No. 1 (is not provided);

key parameters of the Government budget of the Republic of Uzbekistan for 2012 according to appendix No. 2 (are not given);

key parameters of the off-budget Pension fund, Republican road fund, off-budget fund of reconstruction, capital repairs and equipment of educational and medical institutions, Fund of meliorative improvement of the irrigated lands under the Ministry of Finance of the Republic of Uzbekistan for 2012 according to appendices No. 3-6 (are not given).

2. Establish the extreme extent of central government budget deficit of the Republic of Uzbekistan for 2012 in the amount of percent 1,0 to amount of the gross domestic product (GDP).

Determine that financing of central government budget deficit of the Republic of Uzbekistan is performed at the expense of free remaining balance of means of the republican budget for the beginning of 2012 and other noninflationary sources according to the legislation.

3. Approve rates for 2012:

the value added tax in the amount of 20 percent;

the income tax of legal entities, according to appendix No. 7;

income tax, according to appendix No. 8;

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

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

the fixed tax on the physical persons who are engaged in business activity without formation of legal entity (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 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;

tax for use of water resources, according to appendix No. 13;

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. 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;

obligatory contributions to the off-budget Pension fund under the Ministry of Finance of the Republic of Uzbekistan in the amount of percent 1,6, in Republican road fund under the Ministry of Finance of the Republic of Uzbekistan in the amount of 1,4 of percent and in off-budget fund of reconstruction, capital repairs and equipment of educational and medical institutions under the Ministry of Finance of the Republic of Uzbekistan in the amount of percent 0,5 from the established subjects to taxation, according to appendix No. 22;

charges and contributions to Republican road fund under the Ministry of Finance of the Republic of Uzbekistan, according to appendix No. 23;

single social payment in the amount of 25 percent, with distribution of means between the off-budget Pension fund, the State fund of assistance of employment and the Federation Council of labor unions of Uzbekistan according to standard rates, according to appendix No. 24;

compulsory insurance premiums of citizens from their income in work payment type in the off-budget Pension fund under the Ministry of Finance of the Republic of Uzbekistan in the amount of percent 5,5.

4. Establish since January 1, 2012:

the initial grade of the Single scale of charges in compensation the first category, having cancelled the zero category;

the amount of compensation in all organizations of the republic is not lower than the first grade on the Single scale of charges in compensation.

To the Cabinet of Ministers of the Republic of Uzbekistan in week time to accept the resolution on realization of this Item.

5. Determine that since January 1, 2012:

the citizens acquiring the new car of production of the Russian Federation and Ukraine in specialized retail chain stores are exempted from payment of collection in Republican road fund for acquisition and (or) temporary import on the territory of the Republic of Uzbekistan of vehicles;

realization of cotton fiber to intra republican consumers is assessed with the value added tax at the rate of 20 percent.

To the Ministry of Finance together with the State Tax Committee of the Republic of Uzbekistan in week time to develop and approve procedure for calculation and tax discharge on value added on the cotton fiber realized to intra republican consumers.

6. Enter since January 1, 2012:

the excise tax on the jewelry from gold realized in retail retail chain stores in the amount of, to equivalent 10 US dollars for 1 gram of jewel, with provision to retailers of the right of deduction of the excise tax paid by them on the acquired jewelry from gold in the presence of supporting documents;

payment for use of subscriber number by the legal entities rendering of mobile service (mobile radiotelephone companies) in the amount of 400 bags. in month, with distribution of means, according to appendix No. 25.

To the Uzbek communication agency and informatization together with the Ministry of Finance of the Republic of Uzbekistan to approve Regulations on procedure for calculation and payment by the legal entities rendering of mobile service (mobile radiotelephone companies), payments for use of subscriber number in a month

7. Determine that since January 1, 2012 the taxation of the income from delivery of real estate, including housing in lease, 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 rates of the rent established according to appendix No. 26, - for the physical persons leasing housing.

8. For the purpose of further stimulation of expansion of production of separate types of goods and development of service industry to extend till January 1, 2014 the validity of the privileges which are earlier provided by separate decisions of the President of the Republic of Uzbekistan and the Cabinet of Ministers of the Republic of Uzbekistan according to appendix No. 27.

9. Determine that receipts from single tax payment are distributed between the Government budget of the Republic of Uzbekistan, the off-budget Pension fund, Republican road fund and off-budget fund of reconstruction, capital repairs and equipment of educational and medical institutions in the sizes determined by the Ministry of Finance of the Republic of Uzbekistan.

10-12. Confidentially.

13. For the purpose of increase in role, independence and responsibility of public authorities and public administration on places in forming of the income and expenses of local budgets of all levels to enlist increases in share of local budgets in the Government budget of the Republic of Uzbekistan in full in the income of local budgets of receipt on the following nation-wide taxes:

tax for use of water resources;

the fixed tax by separate types of business activity on legal entities and physical persons;

the fixed tax on the physical persons who are engaged in business activity without formation of legal entity (individual entrepreneurs);

the excise tax on the beer and vegetable oil made in the republic.

14. Approve for 2012:

amounts of the income and expenses of the budget of the Republic of Karakalpakstan, local budgets of areas and Tashkent, the extreme sizes of the budget subventions from the republican budget according to appendix No. 28 (are not given);

standard rates of contributions from receipts of nation-wide taxes to the budget of the Republic of Karakalpakstan, local budgets of areas and Tashkent according to appendix No. 29 (are not provided);

minimum admissible sizes of turnover cash of the republican budget, budget of the Republic of Karakalpakstan, local budgets of areas and Tashkent according to appendix No. 30 (are not given).

15. Grant to the Ministry of Finance of the Republic of Uzbekistan the right in case of allocation of the budget subventions and loans (on covering of temporary cash gap between the income and expenses) to the corresponding local budgets to specify their sizes, proceeding from completeness of receipts of all taxes and other obligatory payments which are due on the territories, and also need of unconditional financing for first-priority procedure for expenses of the Government budget of the Republic of Uzbekistan on the salary (with single social payment), to benefits and the payments equated to them.

16. Approve the sizes of reserve fund of the Cabinet of Ministers of the Republic of Uzbekistan and budget reserve funds of the Republic of Karakalpakstan for 2012, local budgets of areas and Tashkent according to appendix No. 31 (are not provided).

17. For increase in targeting of appointment and payment of social benefits through self-government institutions of citizens to the Ministry of Labour and Social Protection of the population, Republican Fund "Makhallya", the Ministry of Economics, the Ministry of Finance and the State committee according to the statistics of the Republic of Uzbekistan to make the offers on further enhancement of the operating procedure for purpose of benefits providing more complete accounting of comprehensive incomes of families in the Cabinet of Ministers of the Republic of Uzbekistan in a month.

18-19. Confidentially

20. Raise since January 1, 2012 base wage rates of compensation of teachers, leaders and leading employees of children's schools of music and art on average for 20 percent with simultaneous increase in their pedagogical load of 10 percent.

21. For the purpose of implementation in educational process of modern training methods, development in pupils of skills of self-education to the Ministry of national education and the Center of secondary vocational professional education of the Ministry of the higher and secondary vocational education of the Republic of Uzbekistan to review the existing basic curricula, meaning reduction, since 2012/2013 academic years, cool (classroom) occupations on average for 5 percent, with the direction of the released funds for financing of programs for expansion of implementation of information and other modern pedagogical technologies in training process, to providing with consumable materials and accessories for computer classes, educational laboratory classes, educational workshops, and also on running repair of buildings of comprehensive schools, academic lyceums and professional colleges.

22. Accept the offer of the Ministry of Finance, Ministry of the higher and secondary vocational education and Academy of Sciences of the Republic of Uzbekistan on implementation since January 1, 2012 of procedure for the budget financing of grants on scientific projects providing allocation:

95 percent of means from the amount of scientific grant - during the research period, for covering of labor and material costs on implementation of the scientific project;

5 percent - after examination and acceptance by customers of results of implementation of the scientific project for further implementation in production or scientific and pedagogical process.

To the Ministry of Finance, Committee on coordination of development of science and technologies under the Cabinet of Ministers, Academy of Sciences of the Republic of Uzbekistan in two weeks in accordance with the established procedure to make changes and additions to Regulations on procedure for forming and implementation of scientific and technical programs of basic and applied researches.

23. To the Ministry of Finance of the Republic of Uzbekistan to perform during 2012 at the expense of means of the republican budget early complete debt repayment on the state medium-term treasury obligations (SMTTO) without new placements.

24. Extend till January 1, 2013 action of Item 24 of the resolution of the President of the Republic of Uzbekistan of December 22, 2009 No. PP-1245 "About the forecast of the main macroeconomic indicators and parameters of the Government budget of the Republic of Uzbekistan for 2010".

25. Accept the offer of the Ministry of Finance of the Republic of Uzbekistan on refining of key parameters of the Government budget of the Republic of Uzbekistan and the state trust funds of the Republic of Uzbekistan for 2011 in the following amounts;

income of the Government budget in the amount of 16 746,8 billion bags, expenses of 16 802,6 billion bags, with budget deficit in the amount of percent 0,1 to amount of gross domestic product;

income of the off-budget Pension fund under the Ministry of Finance of the Republic of Uzbekistan in the amount of 6 145,0 billion bags and expenses in the amount of 6 030,1 billion bags;

income of Republican road fund under the Ministry of Finance of the Republic of Uzbekistan in the amount of 94 L2 billion bags and expenses in the amount of 816,5 of one billion bags.

To the Ministry of Finance of the Republic of Uzbekistan, Treasury of the Ministry of Finance together with the Central bank of the Republic of Uzbekistan to carry out in January, 2012, in the procedure established by the legislation, final transactions on execution of the State Budget for 2011, with reflection of the performed operations in the performance report of the Government budget of the Republic of Uzbekistan for 2011.

26. To the Ministry of Finance together with the Ministry of Economics of the Republic of Uzbekistan on analysis results of quarterly accomplishment of the forecast of macroeconomic indicators and execution of the State Budget of the Republic of Uzbekistan in 2012, if necessary to make in the Cabinet of Ministers of the Republic of Uzbekistan offers on refining of key parameters State the budget within the established deficit.

27. Recognize voided since January 1, 2012 some decisions of the President of the Republic of Uzbekistan and the Cabinet of Ministers of the Republic of Uzbekistan, according to appendix No. 32.

Make since January 1, 2012 changes and amendments to some decisions of the President of the Republic of Uzbekistan and the Cabinet of Ministers of the Republic of Uzbekistan, according to appendix No. 33.

28. To the Ministry of Finance together with the Ministry of Justice of the Republic of Uzbekistan and other interested ministries and departments to make in the Cabinet of Ministers of the Republic of Uzbekistan the offers on changes and amendments in the legislation following from this resolution in a month.

To the ministries and departments, Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas and Tashkent in week time to bring earlier adopted regulatory legal acts into accord with this resolution.

29. To impose control of execution of this resolution on the First Deputy Prime Minister of the Republic of Uzbekistan Azimov R. S.

 

 Appendix No. 7

to the Resolution of the President of the Republic of Uzbekistan of December 30, 2011 No. PP-1675

Profit tax rates of legal entities

№	Payers	Tax rates in % to taxable basis
1.	Legal entities (except for provided in items 2-3)	9
2.	Commercial banks	15
3.	The legal entities gaining income from holding auctions, the organizations of mass spectacular actions by involvement of the legal entities and physical persons (including nonresidents) having the license for occupation tour and concert activities	35
4.	For the export companies which have share of commodity export, works, services (irrespective of the place of performance of works, rendering services) of own production for freely convertible currency, except for primary goods which list is approved by the Presidential decree of the Republic of Uzbekistan of October 10, 1997 No. UP-1871, constitutes:
	from 15 to 30 percent in total amount of realization	the established rate decreases by 30%
	from 30 and more percent in total amount of realization	the established rate decreases by 50%
5.	For the companies of service industry specified in Item 1, on amount of the rendered services paid using plastic cards	the established rate decreases by 10%

 Appendix No. 8

to the Resolution of the President of the Republic of Uzbekistan of December 30, 2011 No. PP-1675

Tax rates on the income of physical persons

Leviable income	Tax rate
to the fivefold size of minimum wage	9 percent from income amount
from five (+ 1 bags) to the tenfold size of minimum wage	tax with fivefold + 16 percent from the amount exceeding the fivefold size of minimum wage
from tenfold (+ 1 bags) size of minimum wage and above	tax with tenfold + 22 percent from the amount exceeding the tenfold size of minimum wage

Notes:

1. For the purpose of calculation of tax amount on the income of physical persons the size of minimum wage is considered by the accruing result since the beginning of year (the amount of minimum wages for every month of the corresponding period since the beginning of year).

2. The tax amount on the income of physical persons calculated proceeding from the established rates, which is subject to payment in the budget decreases by the amount of the compulsory monthly fees transferred into individual accumulation retirement accounts of the citizens estimated in the amount of 1 percent from the income liable to tax on the income of physical persons.

 Appendix No. 9-1

to the Resolution of the President of the Republic of Uzbekistan of December 30, 2011 No. PP-1675

Rate of single tax payment for microfirms and small enterprises (except trade enterprises and public catering)

№	Payers	Tax rates in % to taxable basis
1.	The companies of all industries of economy except for provided in Items 2 - 9	6 *
2.	The companies in the sphere of the industry	5
2-1.	Editorial offices of mass media, publishing houses, printing organizations, broadcasting companies	5
3.	The companies at which development and deployment of computer software products constitute at least 80% of the total amount of sales of goods (works, services)	5

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