Реферат: A Country Report and Profile - Republic of Uzbekistan
C 30%, for an export share of 10-20% of the total production;
C 40%, for an export share of 20 to 30% of the total production;
C 50%, for an export share of 30% or above of the total production.
The purpose here is encourage export oriented manufactures and producers. "The great success stories of economic development in the last decade have been the newly industrialized countries of East Asia, especially the so-called "Four Tigers" (South Korea, Taiwan, Hong Kong, Singapore) and, increasingly, Thailand and China. In these countries, rapid growth of manufactured exports has produced dramatic increase in income. NICs have undertaken a host of interventionist measures to create incentives for export-oriented manufacturing firms, often in particular targeted industries at particular stage of development."16
The heritage of the old socialist system - exports of primary commodities and raw materials (cotton and cotton products in case of Uzbekistan)- has to be gradually replaced by exports of manufactured goods. "It makes a difference not only because of the recurring problem of gluts resulting in falling process in commodity markets but also because of the greater potential for raising technological capabilities".17
3. Receipts in hard currency earned by a company due to increase in export production (product, jobs, services) shall be exempt from profit tax.
4. A 25% profit tax shall apply to the profits of Joint Ventures with a foreign capital of above 30%.
5. Joint Ventures with a foreign capital investing into projects in priority industries included in the Investment Program of Uzbekistan shall be exempt form taxation for the first five years of operations.
6. Joint Ventures which specialize in agricultural products and the processing thereof (except for wines and strong alcoholic beverages), consumer products, and construction materials, medical equipment, machines and equipment for agriculture, light and food industries, recycling of waste materials are exempt from taxation for two years from the date of registration.
7. The profit tax base is decrease by 30% of the expenses for environmental protection.
8. Dividend on governmental bonds are exempt from taxation;
9. Joint Ventures in which the foreign investor=s share accounts for a least 50% shall be exempt of profit tax provided that whole tax amount is re-invested into the development and expansion of production of consumer goods.
10. Exporting companies are exempt of VAT for materials resources used in the production of exported goods (jobs, services)
11. Beginning July 1994 through December 31, 1997 all commercial banks including those with foreign capital, as well as the branches and subsidiaries of foreign banks operating in Uzbekistan are exempt from profits, property, land and vehicle taxes.
V. Intergovernmental Financial Relationship
The Statute of the Republic of Uzbekistan "About Taxes on Enterprises and Entities" establishes revenue sources of the State budget of the Republic of Uzbekistan, State budget of the Republic of Karakalpakstan18 and local budgets for the following expenditures:
C Social Security Payments;
C Businesses regulation;
C International payments;
C Stabilization of the foreign currency circulation;
C Stimulation of extraction of mineral resources; and
C Environmental protection.
Uzbekistan has a unified statewide tax policy for all layers of government. Local governments are entitled to levy taxes within the format of the state wide tax policy.
Tax revenue is transferred to the budget of Uzbekistan, budgets of the Republic of Karakalpakstan, regions, Tashkent city (the capital) and local budgets according to the norms established annually during the process of budget approval for the respective fiscal year.
Local governments impose local taxes in their jurisdictions in full accordance with the Uzbek laws and based on the general tax policy of Uzbekistan.
The authorities levying a specific type of tax establish:
C the taxpayer;
C the tax base;
C the tax rate;