THE RESOLUTION OF THE REPUBLICAN COMMISSION ON REDUCING OVERDUE RECEIVABLES AND PAYABLES AND TO STRENGTHENING OF DISCIPLINE OF PAYMENTS IN THE BUDGET OF THE REPUBLIC OF UZBEKISTAN

of December 10, 2004 No. 60

About approval of the Regulations on provision of delay and (or) payment by installments on debt repayment, the termination of charge of penalty fee, and also write-off of penalty fee and penalties on payments in the budget and the state trust funds

According to resolutions of the Cabinet of Ministers of the Republic of Uzbekistan of February 9, 2004 No. 61 "About formation of the Republican commission on reducing overdue receivables and payables and to strengthening of discipline of payments in the budget" and of April 14, 2004 No. 182 "About the organization of activities of the Republican commission on reducing overdue receivables and payables and strengthening of discipline of payments in the budget" (Collection of the legislation of the Republic of Uzbekistan 2004 No. 15, of the Art. 178), the Republican commission on reducing overdue receivables and payables and strengthening of discipline of payments in the budget decides:

1. Approve Regulations on provision of delay and (or) payment by installments on debt repayment, the termination of charge of penalty fee, and also write-off of penalty fee and penalties on payments in the budget and the state trust funds according to appendix.

2. Declare invalid the Regulations on provision of delay and (or) payment by installments on payment of shortage, the termination of charge of penalty fee, and also write-off of penalty fee on taxes and payments in the budget and the state trust funds approved by Government commission on enhancement of the mechanism of calculations and strengthening of discipline of payments in the budget of July 5, 2001 No. 26 (reg. No. 1071 of 28.09.2001, the Bulletin of regulations of the ministries, state committees and departments of the Republic of Uzbekistan, 2001, No. 18).

3. This resolution becomes effective after ten days from the date of its state registration in the Ministry of Justice of the Republic of Uzbekistan.

Approved by the Resolution of the Republican commission on reducing overdue receivables and payables and to strengthening of discipline of payments in the budget of the Republic of Uzbekistan of December 10, 2004 No. 60

Regulations on provision of delay and (or) payment by installments on debt repayment, the termination of charge of penalty fee, and also write-off of penalty fee and penalties on payments in the budget and the state trust funds

This Provision is developed according to resolutions of the Cabinet of Ministers of the Republic of Uzbekistan of February 9, 2004 No. 61 "About formation of the Republican commission on reducing overdue receivables and payables and to strengthening of discipline of payments in the budget" (Collection of the legislation of the Republic of Uzbekistan, 2004, No. 6, the Art. 72) and of April 14, 2004 No. 182 "About the organization of activities of the Republican commission on reducing overdue receivables and payables and strengthening of discipline of payments in the budget" (Collection of the legislation of the Republic of Uzbekistan, 2004, No. 15, the Art. 178) and determines procedure for provision of delay and (or) payment by installments by debt repayment (the main amount, penalty fee, penalties), the terminations of charge of penalty fee, and also write-off of penalty fee and penalties on payments in the budget, and the state trust funds.

I. General provisions

1. Provision of delay (payment by installments) on debt repayment, the termination of charge of penalty fee, write-off of penalty fee and penalties on payments in the budget and the state trust funds is made by the Republican commission on reducing overdue receivables and payables and strengthening of discipline of payments in the budget (further - the Republican commission) for the purpose of rendering government assistance in recovery of solvency of the companies and organizations which are in temporary financial difficulties.

2. The basic concepts applied in this Provision:

shortage - not deposited amount of the added to tax payment, charges and other obligatory payments in the budget and the state trust funds for the expiration of the payment due dates established on them;

debt - all amount of shortage, the added penalty fee and the applied penalties for violation of the law;

delay - transfer of payment due date of debt before the date established by the legal decision of the Republican commission;

payment by installments - debt repayment by parts in the terms established by the Republican commission;

write-off of penalty fee and penalties - reduction of debt of the taxpayer to the budget and the state trust funds by the amount of the added penalty fee and the applied penalties for violation of the law which is registered in card of personal account of the taxpayer.

3. The delay (payment by installments) granted by the Republican commission extends to all outstanding amount which is registered in card of personal account of the taxpayer for date of the granted delay (payment by installments) if other is not stipulated in the decision of the Republican commission.

4. Questions of provision of delay (payment by installments), write-off of penalty fee to the sanified agricultural enterprises, including farms on debts in the budget and in off-budget funds, and also introductions of the moratorium on monetary commitments, taxes, charges and other obligatory payments of the sanified agricultural enterprises are considered by Government commission concerning bankruptcy and sanitation of the companies.

5. The procedure for the address, consideration and provision of delays (payments by installments) on payments in off-budget funds of the ministries and departments, and also the terminations of charge of penalty fee, write-off of penalty fee and penalties is similar to the procedure established by this Provision for the state trust funds.

6. During the term of the granted delay (payment by installments) the taxpayer shall pay all amount of deferred payments according to the approved debt repayment schedule or other terms established by the Republican commission.

7. In case of non-compliance with the repayment periods of debt established by the legal decision of the Republican commission, the body of the State Tax Service charges on the amount of outstanding part of shortage penalty fee in the procedure established by the legislation.

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