RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF UZBEKISTAN, STATE TAX COMMITTEE OF THE REPUBLIC OF UZBEKISTAN

of January 28, 2016 No. No. 3, 2016-05

About approval of Rules of application of profit tax rate of legal entities by the organizations rendering of mobile service (mobile radiotelephone companies) depending on profitability level

According to article 7 of the Law of the Republic of Uzbekistan "About the State Tax Service" and the resolution of the President of the Republic of Uzbekistan of December 22, 2015 "About the forecast of the main macroeconomic indicators and parameters of the Government budget of the Republic of Uzbekistan for 2016" the Ministry of Finance and the State Tax Committee of the Republic of Uzbekistan decide No. PP-2455:

1. Approve Rules of application of profit tax rate of legal entities by the organizations rendering of mobile service (mobile radiotelephone companies) depending on profitability level, according to appendix.

2. This resolution becomes effective from the date of its official publication.

Appendix

to the Resolution of the Ministry of Finance and State Tax Committee of the Republic of Uzbekistan of January 28, 2016 No. No. 3, 2016-05

Rules of application of profit tax rate of legal entities by the organizations rendering of mobile service (mobile radiotelephone companies) depending on profitability level

These rules according to article 7 of the Law of the Republic of Uzbekistan "About the State Tax Service" and the resolution of the President of the Republic of Uzbekistan of December 22, 2015 No. PP-2455 "About the forecast of the main macroeconomic indicators and parameters of the Government budget of the Republic of Uzbekistan for 2016" determine procedure for application of profit tax rate of legal entities by the organizations rendering of mobile service (mobile radiotelephone companies) depending on profitability level.

Chapter 1. General provisions

1. According to the resolution of the President of the Republic of Uzbekistan of December 22, 2015 No. PP-2455 "About the forecast of the main macroeconomic indicators and parameters of the Government budget of the Republic of Uzbekistan for 2016" since January 1, 2016 the organizations rendering mobile services (further - mobile radiotelephone companies), estimate the income tax of legal entities on tiered rates depending on profitability level.

Chapter 2. Determination of level of profitability

2. Profitability is determined proceeding from indicators of the Report on financial results - No. form 2, of the Minister of Finance of the Republic of Uzbekistan approved by the order of December 27, 2002 No. 140 "About approval of forms of the financial reporting and rules by their filling" (reg. No. 1209 of January 24, 2003) (further - the Report), on the following formula:

Russian Federation = P/S x 100%, where:

The Russian Federation - the actual level of profitability;

П - profit (loss) before the tax discharge on profit - line 240 of the Report;

With - cost of sales (goods, works and services) - line 020 of the Report.

Chapter 3. Application of profit tax rate of legal entities depending on profitability level

3. Profit tax rates of legal entities are established depending on profitability level:

to 20 percent inclusive - in the amount of percent 7,5;

over 20 percent - in the amount of 50 percent from the amount of the profit exceeding the 20 percentage level of profitability.

4. The profit tax rate of legal entities established in case of profitability level over 20 percent is not adjusted depending on share of export of services in the total amount of realization.

5. If the actual level of profitability calculated according to Item 2 of these rules does not exceed 20 percent the profit tax rate of legal entities in the amount of 14 percent is applied to all amount of taxable basis.

6. In case of profitability level over 20 percent the income tax of legal entities is estimated on tiered rates.

At the same time for determination of tax amount on profit of legal entities the taxable basis estimated in accordance with the established procedure, having on is determined:

level of profitability is up to 20 percent;

level of profitability is over 20 percent.

7. The taxable basis falling on profitability level to 20 percent is determined by the following formula:

NB to 20% = NBR ((20% / the Russian Federation) 100%), where:

NB to 20% - the taxable basis falling on profitability level to 20 percent;

NBR - taxable basis (line 150 of Calculation of the income tax of legal entities);

The Russian Federation - the actual level of profitability.

8. The taxable basis falling on profitability level over 20 percent is determined by the following formula:

NB over 20% = NBR - NB to 20%, where:

NB over 20% - the taxable basis falling on profitability level over 20 percent;

NBR - taxable basis (line 150 of Calculation of the income tax of legal entities);

NB to 20% - the taxable basis falling on profitability level to 20 percent.

9. The tax amount on profit of legal entities is determined by the following formula:

EE tax = (NB to 20% of 14%) + (NB over 20% of 50%), where:

tax - tax amount on profit of legal entities;

NB to 20% - the taxable basis falling on profitability level to 20 percent;

NB over 20% - the taxable basis falling on profitability level over 20 percent.

Conditional examples of determination of the amount of taxable basis proceeding from the level of profitability and calculation of tax amount on profit of legal entities are given in appendix to these rules.

Chapter 4. Final provisions

10. For the purpose of accounting of receipts in the republican budget of the Republic of Uzbekistan from mobile radiotelephone companies the tax amount on profit of legal entities falling on profitability level over 20 percent is transferred into the separate account opened in the commercial banks serving relevant organs of the State Tax Service.

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