RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of April 18, 2003 No. 188

About measures of increase in efficiency of the carried-out restructuring and financial improvement of economically insolvent companies

For the purpose of increase in process performance of restructuring and bankruptcy economically insolvent, unprofitable and the Cabinet of Ministers low-profitable enterprises decides:

1. Determine that based on representation of the Agency on management of the state assets of the Republic of Uzbekistan economically insolvent, unprofitable and low-profitable enterprises which are subject to restructuring and also the companies to which procedures of insolvency are applied, transfer in accordance with the established procedure on current status being on their balance:

apartment houses, hostels, kindergartens and other objects of social infrastructure - on balance of khokimiyats of the cities and areas in the place of their arrangement;

objects of production infrastructure of general use (objects of electric grid economy, water supply, transport communications, etc.) - on balance of the companies of the corresponding economic associations for their functional accessory.

Determine that cost transferred, according to this resolution, from balance on balance of objects of social and production infrastructure public is not the taxation object when charging the value added tax for transferring and tax on the income (profit) for the host party.

2. To agency on management of the state assets, the Ministry of Economic Development and reducings poverty and to the Ministry of Finance of the Republic of Uzbekistan together with the khokimiyats of the cities and areas interested in economic associations to which fixed assets objects of social and production infrastructure of economically insolvent, unprofitable and low-profitable enterprises, and also the companies to which procedures of insolvency are applied are transferred to carry out careful inventory count of the transferred objects and to make in accordance with the established procedure offers on their further privatization, on sources and feasibility of their financing.

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