Senators approve amendments to some legislative acts

The purpose of this legal act is to create legal conditions for implementation, approved fiscal and budgetary policies for 2018, as well as clarification of certain legislative norms with a view to their uniform application in connection with the adoption of the main directions of the tax and budget policy for 2018.

The law consists of 3 articles, envisaging introduction of amendments and additions to the Budget Code, the Tax Code and the Law of the Republic of Uzbekistan "On State Power in the Fields", the press service of the Senate said.

So, changes and additions to the Budget Code of the Republic of Uzbekistan, the Law "On State Power in the Fields" envisages increasing the independence of local budgets, the formation of reserve funds of districts and cities and the order of their use.

In particular, it is planned to increase the budgetary authority of the Council of Ministers of the Republic of Karakalpakstan, regional hokims, the city of Tashkent, districts and cities by granting them the right to introduce decreasing or increasing coefficients to the established rates for certain taxes determined by law, taking into account the specifics of the regions and the place of activity.

Amendments and additions to the Tax Code of the Republic of Uzbekistan are made in connection with the consolidation of the tax on improvement and development of the social infrastructure with a tax on incomes, as well as in connection with the association of mandatory contributions into a single payment - in mandatory contributions to state trust funds.