Uzbek government to reduce tax burden on economy in 2013

Uzbek government to reduce tax burden on economy in 2013

Uzbekistan, Tashkent, Oct. 26 / Trend corr. D.Azizov /

The Uzbek government plans to reduce the tax burden on the country's economy from 21.6 per cent expected in 2012, to 21.3 per cent of the GDP.

This was stated in the official report of the Uzbek National Information Agency (UzA) at the meeting of Cabinet of Ministers which approved the forecast of the main macroeconomic indicators, the concept of tax and budget policy, the draft of the state budget, and the job creation and employment programme for 2013.

The report does not present the main parameters of the government's budget, its income and expenditure.

'The concept of tax and budget policy and the draft state budget for 2013 provide for high and stable economic growth, strengthening of macroeconomic stability, as well as the development of the social sphere and growth of living standards through an increase in wages and providing targeted social support', the report says.

According to the report, the main directions of budget policy and the draft budget for 2013 maintain social spending priorities, a further rise in the level of income, strengthening the material and technical base and facilities, the education and health sectors, as well as the implementation of an active investment policy.

In total, the government plans to spend more than 59 per cent of the expenditure budget on financing the social area.

Reduction of the minimum tax rate on personal income from nine to eight per cent is also among the measures to reduce the tax burden.

Along with this, intangible assets such as patents, licenses, software and copyrights are excluded from taxation of entities which will be a motivating factor for the widespread introduction of innovation in enterprises.

Budget funds directed towards financial support of the economy have been increased by 22 per cent in comparison to this year. Expenditure on centralised investments is also planned to be increased by 23 per cent.

Some 973.000 new jobs are planned to be created within the employment programme.

According to the report, the Cabinet of Ministers decided to approve the overall macroeconomic forecast, the concept of tax and budget policy, the draft budget and programme for the creation of jobs and send them to the parliament.

As previously reported, the state budget of Uzbekistan for 2012 was approved with a deficit of one per cent of the projected GDP, or 966.5 billion sums, the revenue to the sum of 21.1 per cent of the GDP (20 trillion 393.9 billion sums) and expenditure of 22.1 per cent of GDP (21 trillion 360.4 billion sums).

The official exchange rate on October 26 is 1952.60 sum / $ 1.

Azerbaijani ministry talks about project of North-South international transport corridor
Azerbaijani ministry talks about project of North-South international transport corridor
New road bridge to be built between Azerbaijan and Iran in Astara
New road bridge to be built between Azerbaijan and Iran in Astara
Sale transactions in Georgia's real-estate sector may drop in Jan.-Feb. 2021
Sale transactions in Georgia's real-estate sector may drop in Jan.-Feb. 2021
Loading Bars
Latest
Azerbaijan suspends import of live poultry and poultry products from several countries
Pashinyan's confession on Shusha destroys absurd statements of Armenian officials
Half of Azerbaijan's population economically active as of 2020
Azerbaijan disseminates footage from Kendyeri village of Kalbajar district (PHOTO/VIDEO)
TANAP’s gas supplies exceed 9 bcm
U.S. weekly jobless claims decline moderately
Georgian Sweeft Digital company to cooperate with Berlin-based software company in open banking field
Flydubai resumes flights to Georgia
Construction of KAMAZ service centers in Turkmenistan to allow implementation of new projects
SOCAR Aviation starts supplying fuel to Izmir Adnan Menderes Airport
Standard & Poor's predicting growth in Azerbaijani Pasha Bank's 2021-22 capitalization
Turkish YDA Holding constructing multidisciplinary hospital in North Kazakhstan
Total cost of cars exported by Georgia to Azerbaijan down
Reforms in real sector of economy to be main drivers of Uzbekistan’s economy in 2021
Georgia reduces imports of building materials from Azerbaijan
Iran's Sefiddasht-Shahrekord railway project progressing
Azerbaijani population’s nominal income down in 2020
Kazakhstan decreases petroleum oils export to Lithuania amid COVID-19
Azerbaijan confirms 770 more COVID-19 recoveries
No Tsunami risk after 7.0 magnitude quake at sea near Philippines
Number of new apartment transactions down in Georgia's Tbilisi - Colliers International
Azerbaijan shows footage from Dordchinar village of Fuzuli district (PHOTO/VIDEO)
KAMAZ, Turkmenistan work to expand supply, technical support of vehicles in country
Asset quality of Georgian TBC Leasing' deteriorates in 9M2020
Samarkand region leads in total production volume of Uzbekistan’s agriculture, forestry and fisheries fields
Georgia reduces export of cattle to Azerbaijan
Volume of passenger traffic by all vehicles in Azerbaijan down
Azerbaijani minister denies possibility of selling SOCAR’s shares
Azerbaijani ministry talks about project of North-South international transport corridor
Azerbaijan sees decline in 2020 alcoholic, tobacco production
Azerbaijan records slowdown in cargo movement by all types of transport
Kazakhstan amending agreements on int'l road traffic with Georgia
Volkswagen faces EU fine for missing 2020 emissions targets
EBRD supports Georgian currency and capital markets dev't to promote economic resilience
Kazakhstan's revenue from maritime cargo transport surges
Data on 2020 cargo traffic via TRACECA's Azerbaijani segment revealed
Azerbaijan appoints new coach for Women's Artistic Gymnastics national team
Dostlug field to help develop Azerbaijan’s petrochemicals industry – Bryza
Kazakhstan meets local demand in meat by boosting annual production
Azerbaijan reveals 2020 maritime cargo handling figures
Azerbaijani citizens arrested in Libya set free, return home
Azerbaijan discloses amount of Kapital Bank’s deposits accounting for legal entities
Uzbekistan reports increase in cars imports for 2020
Net profit of Georgian commercial banks down
Rehabilitation of tea plantations to enter active phase in 2021 in Georgia
Azerbaijan to make environmental monitoring by UAVs in liberated territories
Azerbaijan - one of most secured countries in CIS with int'l reserves - Gazprombank
Azerbaijan uses innovative method of covered wagons to import Turkish products (PHOTO)
Kazakh, Uzbek companies agree on joint manufacturing of kitchen stoves, water heaters
Iran reveals COVID-19 data for January 21
Azerbaijan Industry Bank’s total assets down in 2020
Iran’s NISOC boosts oil extraction
Uzbekistan’s Central Bank keeps base rate unchanged
Georgia’s beer export to Azerbaijan down
Bitcoin slumps 10% as pullback from record continues
Azerbaijan, Turkmenistan sign memorandum on joint development of Dostlug field
Azerbaijani, Turkmen FMs talk significance of joint collaboration on Caspian Sea (PHOTO)
Kazakhstan taking measures to boost investments co-op with IFC
Iran’s Bahar Azadi gold coin price continues to rise
Turkmenistan considers co-op with number of Austrian pharmaceutical companies
State Commercial Bank Turkmenistan opens tender for consulting services
Iran launches mega refinery project
Important facilities to be upgraded in Iran's Razavi Khorasan Province
Georgian medicine export to Azerbaijan decreases
MoU on Dostluk oil & gas field is new milestone in dev’t of Azerbaijan-Turkmenistan ties - SOCAR
Azerbaijan increases gas export along Baku-Tbilisi-Erzurum route
Azerbaijan discloses total capital of ASB Bank
Azerbaijani banks buy more foreign currency at CBA's auction
Uzbekistan reveals share of retail trade turnover in 2020
Kazakhstan’s only lowcoster launching flights on more new routes
Uzbek-Korean JV to buy electric motor via tender
Azerbaijani ASB Bank reveals its 2020 net income
Azerbaijani SOCAR suspends work offshore, open onshore areas due to bad weather
China remains Uzbekistan’s main trade partner in 2020
Precious metal prices up in Azerbaijan
Turkmenistan bank opens tender for audit
Azerbaijan to open bus routes to Shusha and other liberated lands
Demand for notes of Azerbaijani Central Bank significantly exceeds supply
Azerbaijan looking to create favorable conditions for Turkish investors
Geostat reveals volume of gas imported by Georgia from Azerbaijan
Uzbekistan reveals COVID-19 data for January 21
Kazakhstan’s national atomic company reports COVID-19 cases at its JV with France
Meeting through video conferencing held between presidents of Azerbaijan, Turkmenistan (PHOTO)
Azerbaijan ups trade turnover of food, beverages, tobacco products in 2020
Suicide attack kills three, injures 16 in central Baghdad market
Azerbaijan to be telecommunication hub between Europe, Asia via TASIM implementation
Bank Melli Iran unveils amount of loans issued for coronavirus pandemic
Kazakhstan’s National Bank sets up monetary policy committee
Turkmenistan begins harvesting first tomatoes in new year
Azerbaijani oil prices rising
Kazakhstan multifold decreases imports of Brazil-made goods
Kazakhstan reports decrease in raw sulfur production volume
Azerbaijan discloses volume of oil transportation via BTC pipeline in 2020
Turkish companies to initially invest in textile sector in Azerbaijan's Karabakh
Azerbaijani currency rates for Jan.21
Gold and foreign exchange reserves increases in Uzbekistan in 2021
Iran discloses amount of investments made in petrochemical sector
Azerbaijan's 'Regional Development' Public Association launches new portal (VIDEO)
Trading platform IG to buy U.S. brokerage tastytrade for $1 billion
Turkmenistan among top three countries in terms of potato imports from Russia
All news