The draft of main directions of tax and budget policy for 2015 was formed based on priority tasks and goals, determined by the President of Uzbekistan.

According to the document, the base rate of income tax for legal entities is offered to fall from 8% to 7.5%. This will help businesses to save money, which can be used to strengthen technical base of the company and stimulate labour of employees.

At the same time, the rate of single social payment for microfirms and small enterprises, as well as farms is offered to decrease from 25% to 15%. This will decrease tax burden to labour payment fund and ensure legalization of income, paid to workers.

The rate of single tax payment for construction organization, belonging to microfirms and small enterprises, is planned to cut from 6% to 5%.

It is planned to introduce four-stage scale of taxation of income of individuals, setting zero rate for the first group (up to one minimal size of salary), while the rates for other groups will increase by one percentage points. This will decrease tax burden to income of individuals, who receive lower or at the level of average salary.

In order to balance pension fund, it is proposed to increase the rate of mandatory insurance fee of the citizens from their salaries from 6.5% to 7%.

It is expected that social expenses of the state budget in 2015 will make up 12.8% of GDP or 59.2% of total expenses. This will grow by 1.2 times compared to 2014.

The expenses for education will be at the level of 7.3% to GDP, healthcare – 3.1%, social allowances, material assistance to low income families and compensation payments – 1.3% to GDP.

The volume of expenses of the state budget to improvement of cities in 2015, including expenses to repair roads in rural areas, set at 0.4% to GDP, which will increase by 1.35 times compared to 2014.

Income of Pension Fund in 2015 will make up 14 trillion soums, taking into account offered strengthening income base and optimization of income, which will ensure timely financing of pensions and allowances.