RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of December 4, 2014 No. PP-2270

About the forecast of the main macroeconomic indicators and parameters of the Government budget of the Republic of Uzbekistan for 2015

Extraction

In pursuance of resolutions of Legislative house of Oliy Majlis of the Republic of Uzbekistan of October 22, 2014 No. 991-II "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 2015" and the Senate of the Oliy Majlis of the Republic of Uzbekistan of November 13, 2014 No. PS-453-II "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 2015":

1. Approve:

the forecast of the main macroeconomic indicators of development of the Republic of Uzbekistan for 2015 according to appendix No. 1 *;

key parameters of the Government budget of the Republic of Uzbekistan for 2015 according to appendix No. 2 *;

key parameters of the off-budget Pension fund, Republican road fund, off-budget fund of reconstruction, capital repairs and equipment of comprehensive schools, professional colleges, academic lyceums and medical institutions, Fund of development of material and technical resources of higher educational institutions, Fund of meliorative improvement of the irrigated lands under the Ministry of Finance of the Republic of Uzbekistan for 2015 according to appendices No. No. 3 - 7*.

* Appendices No. No. 1 - 7 are not given.

2. Establish the extreme extent of central government budget deficit of the Republic of Uzbekistan for 2015 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 by free balance of the republican budget of the Republic of Uzbekistan for the beginning of 2015 and other noninflationary sources according to the legislation.

3. Approve rates for 2015:

the value added tax in the amount of 20 percent;

the income tax of legal entities according to appendix No. 8;

income tax according to appendix No. 9;

single tax payment according to appendices No. No. 10-1, 10-2 and 10-3;

the fixed tax by separate types of business activity on legal entities and individual entrepreneurs according to appendix No. 11;

the fixed tax on individual entrepreneurs according to appendix No. 12;

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. No. 13-1 and 13-2;

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

tax for use of natural resources according to appendix No. 15;

subscription bonus and bonus of commercial detection according to appendices No. No. 16-1 and 16-2;

the excess profit tax by separate types of products according to appendix No. 17;

the property tax of legal entities and physical persons according to appendices No. No. 18 and 19;

the land tax from legal entities and physical persons according to appendix No. 20;

the single land tax according to appendix No. 21;

the local taxes and charges according to appendix No. 22;

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 comprehensive schools, professional colleges, academic lyceums 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. 23;

charges and contributions to Republican road fund under the Ministry of Finance of the Republic of Uzbekistan according to appendix No. 24;

single social payment, 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. 25;

compulsory insurance premiums of citizens in the off-budget Pension fund under the Ministry of Finance of the Republic of Uzbekistan in the amount of 7,0 of percent.

4. 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. 26, - for the physical persons leasing property.

5. Establish the sizes since January 1, 2015:

the special investment allowance to wholesale selling price on the natural gas realized by JSC Uztransgaz to automobile gas-filling compressor stations (including the legal entities having automobile gas-filling compressor stations on balance), non-taxable, - 400 bags for CBM;

payments for use of subscriber number by the legal entities rendering of mobile service (mobile radiotelephone companies), 750 bags a month with distribution of means according to appendix No. 27.

6. 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 comprehensive schools, professional colleges, the academic lyceums and medical institutions in the sizes determined by the Ministry of Finance of the Republic of Uzbekistan.

7. Approve the minimum sizes of tax debt for the address of claim to property of taxpayers according to appendix No. 28.

14. For the purpose of increase in level of financial self-sufficiency of regions, strengthenings of role, independence and responsibility of state bodies and the government on places in forming of the income and expenses of local budgets to enlist increases in share of local budgets in the Government budget of the Republic of Uzbekistan in full in budget receipts of the Republic of Karakalpakstan and local budgets of areas and Tashkent receipts on the following nation-wide taxes and other incomes:

tax for use of water resources;

the fixed tax by separate types of business activity on legal entities and individual entrepreneurs provided in appendix No. 11;

the fixed tax on individual entrepreneurs provided in appendix No. 12;

the excise tax on the beer and vegetable oil made in the Republic of Uzbekistan;

the excise tax on the jewelry from gold realized in retail retail chain stores;

the state fees, charges and penalties according to appendix No. 29.

Determine that the payment for use of subscriber number by the legal entities rendering of mobile service (mobile radiotelephone companies) in the part sent to the Government budget of the Republic of Uzbekistan is enlisted in the relevant budgets of the Republic of Karakalpakstan and local budgets of areas for place of registration of the subscriber.

15. Approve for 2015:

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 of the Republic of Uzbekistan according to appendix No. 30 *;

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. 31 *;

minimum admissible sizes of turnover cash of the republican budget of the Republic of Uzbekistan, the budget of the Republic of Karakalpakstan, local budgets of areas and Tashkent according to appendix No. 32*.

16. To Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas and Tashkent in coordination with the Ministry of Finance and the State Tax Committee of the Republic of Uzbekistan:

in a month to bring in the Cabinet of Ministers of the program for reducing level of subventsionnost of the Republic of Karakalpakstan, the Jizzakh, Namangan, Samarkand, Surkhandarya and Syr Darya regions;

following the results of the I quarter 2015 to make in the Cabinet of Ministers offers on increase in profitable base of the budget of the Republic of Karakalpakstan, local budgets of areas and Tashkent, research of additional reserves of receipts and expansion of taxable basis in the corresponding territories;

to quarterly provide information on the program implementation course on reducing level of subventsionnost and results of measures for increase in profitable base of the relevant budgets in the Cabinet of Ministers.

Determine that the taxes and other obligatory payments which are subject to transfer in budget receipts of the Republic of Karakalpakstan, local budgets of areas and Tashkent cannot be directed to the expenses which are not provided in parameters of the relevant budgets.

17. Grant to the Ministry of Finance of the Republic of Uzbekistan the right in case of allocation of subventions and budget advances (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.

Determine that:

when estimating expenses of state-financed organizations and receivers of budgetary funds in priority procedure salary expenditures (with single social payment), benefits and the payments equated to it within the approved parameters of expenses of the relevant budgets are provided;

The Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas and Tashkent in case of the written appeal to the Ministry of Finance of the Republic of Uzbekistan with request for receipt of budget advances by turnover cash of the republican budget of the Republic of Uzbekistan provide the complete information about terms and sources of their repayment.

18. Approve for 2015 the sizes of reserve fund of the Cabinet of Ministers of the Republic of Uzbekistan and reserve funds of the republican budget of the Republic of Karakalpakstan, regional budgets of areas and the city budget of the city of Tashkent according to appendix No. 33*.

19. Accept the offer of the Ministry of Health and Ministry of Finance of the Republic of Uzbekistan on phased transition on the regulatory method of determination of bed fund of the central district (city) hospitals providing establishment of the range of profile beds in the directions of diseases taking into account the number of the served population.

To the Ministry of Health of the Republic of Uzbekistan to develop in a month and in coordination with the Ministry of Finance to introduce to the Cabinet of Ministers the draft normative - the legal act about phased transition on regulatory method of determination of bed fund of the central district (city) hospitals since April 1, 2015.

20. To the ministry of national education, the Center of secondary vocational, professional education of the Ministry of the higher and secondary vocational education of the Republic of Uzbekistan together with the Ministry of Finance, taking into account development of modern information and communication technologies in the republic to continue work on further enhancement of standard states of comprehensive schools, the academic lyceums and professional colleges, having provided strengthening of material stimulation of teachers of comprehensive schools for management of informatics office by establishment of allowances in the amount of 17,6 of % of the minimum wage and optimization of position of software engineers.

21. Establish the amount of parent payment:

for content of children in the preschool educational institutions financed by means of the Government budget of the Republic of Uzbekistan for 2015 according to appendix No. 34 *;

* Appendices No. No. 30 - 34 are not given.

for training of children at children's schools of music and art according to appendix No. 35.

22. Extend till January 1, 2016 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".

23. To the Ministry of Finance of the Republic of Uzbekistan together with the State committee of the Republic of Uzbekistan on privatization, demonopolization and development of the competition, the Ministry of Economics of the Republic of Uzbekistan and other interested ministries and departments till March 1, 2015 to make offers in the Cabinet of Ministers of the Republic of Uzbekistan on simplification of procedure of public procurements of goods (works, services) of prime necessity at subjects of entrepreneurship by means of the electronic biddings through special information portal of the Uzbek Republican commodity and raw exchange.

24. Grant the right to the nonresidents of the Republic of Uzbekistan performing activities in the Republic of Uzbekistan through the permanent organizations created by them registered in bodies of the State Tax Service perform commodity importation within implementation of the signed contracts.

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 2014 in the following amounts:

income of the Government budget of the Republic of Uzbekistan in the amount of 31 405,1 billion bags, expenses of 31 675,8 billion bags, with budget deficit in the amount of percent 0,2 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 11 748,4 billion bags and expenses in the amount of 10 700,0 billion bags;

income of Republican road fund under the Ministry of Finance of the Republic of Uzbekistan in the amount of 2 373,3 billion bags and expenses in the amount of 2 225,6 billion bags.

To the Ministry of Finance of the Republic of Uzbekistan, treasurer divisions of the Ministry of Finance together with the Central bank of the Republic of Uzbekistan to carry out in January, 2015, in the procedure established by the legislation, final transactions on execution of the State Budget of the Republic of Uzbekistan for 2014, with reflection of the performed operations in the performance report of the Government budget of the Republic of Uzbekistan for 2014.

26. Make since January 1, 2015 changes and amendments to some decisions of the President of the Republic of Uzbekistan and the Government of the Republic of Uzbekistan according to appendices No. 36.

27. 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 offers on the 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 the regulatory legal acts adopted by them into accord with this resolution.

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

Appendix No. 8

to the Resolution of the President of the Republic of Uzbekistan of December 4, 2014 No. PP-2270

Profit tax rates of legal entities

№	Payers	Tax rates in % to taxable basis
1.	Legal entities (except for provided in items 2-3)	7,5
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 5%

Appendix No. 9

to the Resolution of the President of the Republic of Uzbekistan of December 4, 2014 No. PP-2270

Tax rates on the income of physical persons

Leviable income	Tax rate
to the single size of minimum wage	0 percent from income amount
from one (+ 1 bags) to the fivefold size of minimum wage	Percent 8,5 from the amount exceeding the single size of minimum wage
from five - (+ 1 bags) to the tenfold size of minimum wage	tax with fivefold + 17 percent from the amount exceeding the fivefold size of minimum wage
from tenfold (+ 1 bags) size of minimum wage and above	tax with tenfold + 23 percent from the amount exceeding the tenfold size of minimum wage

Notes:

1. The taxation scale is determined by groups of the leviable income proceeding from the minimum wage established for the beginning of year - for January 1, 2015 (118 400 sum), and not reviewed within year in case of change of the size of minimum wage.

2. 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).

3. 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 less the income assessed at "0" rate (one minimum wage).

4. For the purposes of the taxation of the separate income of the physical persons assessed on minimum rate according to the legislation, the minimum rate is accepted in the amount of percent 8,5.

Appendix No. 10-1

to the Resolution of the President of the Republic of Uzbekistan of December 4, 2014 No. PP-2270

Rates 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 - 11	6 *
2.	The companies in the sphere of the industry	5
3.	Construction organizations	5
4.	Editorial offices of mass media, publishing houses, printing organizations, broadcasting companies	5
5.	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
6.	The legal entities rendering services in customs clearance (customs brokers)	6
7.	Pawnshops	30
8.	The companies gaining income from the organization of mass spectacular actions by involvement of the legal entities and physical persons (including nonresidents) having the license for occupation tour and concert activities	30
9.	Procurement organizations, broker offices (except for specified in Item 10), and also the companies rendering intermediary services in the commission agreement, orders and to other agreements on rendering intermediary services	33 **
10.	The companies performing broker activities in the security market	13 **
11.	The companies specializing in provision in lease of stationary outlets (the income from provision in lease constitutes more than 60%) for realization food and nonfoods	30
12.	For the companies which have share of commodity export, works, services (irrespective of the place of performance of works and 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%
13.	For the companies of service industry for amount of the rendered services paid using plastic cards	the established rate decreases by 5%

* For the companies providing property in finance lease (leasing) - the amount of interest income on finance lease (leasing).

** Amount of remuneration (gross income).

Appendix No. 10-2

to the Resolution of the President of the Republic of Uzbekistan of December 4, 2014 No. PP-2270

Rates of single tax payment for trade enterprises and public catering, including microfirms and small enterprises

№	Payers	Tax rates in % to taxable basis
1.	Catering establishments	10
	from them:
	the specialized enterprises of public catering serving comprehensive schools, boarding schools, average special, professional and higher educational institutions	8
2.	Retailers (except for specified in Item 5), located in:
	the cities with the population size of 100 thousand and more people	4
	other settlements	2
	hard and mountainous areas	1
3.	The trade enterprises performing wholesale, and also wholesale and retail trade (except for specified in Item 5)	5
4.	Specialized territorial bases "Sharobsavdo" on the retail and wholesale turnover	5

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