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NEWS AND EVENTS
November 16, 2012
The draft State Budget of Uzbekistan for 2013 was reviewed at the session of Committee of Legislative Chamber
The Committee of the Legislative chamber on budget and economic reforms held session. The session was attended by heads and experts of ministries and departments, representatives of mass media.

Participants considered the issue on the main directions of tax and budget policy and the draft State budget of the Republic of Uzbekistan for 2013.

It was noted that the main directions of tax and budget policy and the draft State budget for 2013 were developed in order to ensure sustainable, dynamic and balanced macroeconomic development, updating and modernization of the country, stable growth of real income and improvement of living standards of the population, as well as the further implementation of the most important priorities of social-economic development of the country defined by the President of the Republic of Uzbekistan I.A. Karimov at the session of the Government on 19 January of the current year.

Tax incentives and other benefits for obligatory payments provided in recent years for enterprises, small businesses entities contributed to further modernization of production, development of entrepreneurship, expansion of service sphere, ensuring employment and income growth of the population. In connection with this, in the main directions of tax policy for 2013 year it is proposed to retain the current rates of income tax, improvement and development of social infrastructure, single tax payment for micro-firms and small enterprises, value added tax, other obligatory payments.

At the same time there is provision of reduction of the minimum rate of the tax on incomes of physical persons by 1%. This will reduce the tax burden for all categories of taxpayers, in particular low-income groups, at the same time about 186 billion soums will remain at the disposal of individuals.

It is proposed to increase shares of indirect taxes and resource payments in revenues of the State budget from 65.5% to 66.8% through further unification of these taxes and payments. As a result of implementation of the measures provided in the concept of tax policy, tax burden on the economy will decline by 0.3%.

As it was noted at the session, the concept of fiscal policy for 2013 pays the main attention to social support of population and implementation of measures for gradual increase of salaries of budget organizations, pensions, stipends and social payments, which will ensure further improvement of population welfare.

The deputies stressed that even under conditions of ongoing global financial and economic crisis, the concept of tax and fiscal policy and the draft State budget for 2013 year involve implementation of measures aimed at stimulating domestic demand. The main objectives outlined in the draft of the State budget for 2013, are to ensure the stable development of the country and increase welfare of population.

At the session deputies received answers to their questions from heads of respective ministries and departments. Upon the results of the discussion, the Committee adopted the relevant decision. (Source: UzReport.com)


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