Tashkent, Uzbekistan (UzDaily.com) -- Presidential resolution “On further improvement of interbudgetary relations and tax administration” was adopted.

The document was adopted in order to ensure the stability of the republican budget of the Republic of Uzbekistan, improve tax administration, create favorable conditions for the business environment, as well as create a competitive environment in the automotive industry. 

The resolution establishes the procedure in accordance with which:

40 percent of the funds provided for directing to the republican budget of the Republic of Karakalpakstan, regional budgets of regions and the city budget of Tashkent from the overfulfilled part of the forecast of income from value added tax for 2022 remain in the republican budget of the Republic of Uzbekistan;

Starting from 1 May 2022, deductions to the Civil Service Development Support Fund from off-budget funds of state bodies and organizations are suspended;

15 percent of the funds received in off-budget funds of state authorities and administrations, ministries and departments at the expense of taxes, mandatory fees, duties and fines, as well as income received from the placement of free funds of these funds in commercial banks in April-December 2022, are transferred to the republican budget of the Republic of Uzbekistan before the 5th day of the month following the reporting one;

the loan allocated to local khokimiyats from the republican budget of the Republic of Uzbekistan in order to fulfill clause 6 of the resolution of the President of the Republic of Uzbekistan “On additional measures to develop the service sector”, is subject to return at the expense of funds for the development of business infrastructure in case of Council of Ministers of the Republic of Karakalpakstan, khokimiyats of regions and Tashkent city, respectively.

It was also established that when determining the tax base for the property tax of legal entities, the basis is the results of property valuation conducted over the past two years with the involvement of valuation organizations.

The resolution introduced amendments and additions to some legislative acts.