Tashkent, Uzbekistan (UzDaily.com) -- The Ministry of Finance of our country, together with the International Monetary Fund, held an online seminar on 4-6 November on the topic “Uzbekistan-IMF - technical assistance in tax policy and revenue administration: discussion of the Medium-Term Income Planning Strategy (MTRS)”.

The videoconference was attended by Deputy Prime Minister - Minister of Economic Development and Poverty Reduction Jamshid Kuchkarov, Minister of Finance Timur Ishmetov, Deputy Minister of Finance Dilshod Sultanov, Deputy Director of the IMF Department of Fiscal Affairs Juan Toro, as well as representatives of the Administration of the President of the Republic of Uzbekistan, the Cabinet of Ministers , ministries and departments involved in the formation of expenditures and revenues of the State budget.

The aim of the event was to reach a consensus in the field of comprehensive reform of the tax system and mobilization of medium-term revenues to finance the necessary public spending. Our side acquainted the participants with the ongoing reforms and further actions to update the tax and customs systems.

The MTRS strategy to increase budget revenues was launched in July 2016 by the Tax Cooperation Platform (IMF, OECD, UN and WB Group partnerships) during a meeting of G20 finance ministers in Chengdu, China. It consists of such components as identifying the expenditures required to support economic and social development and identifying mechanisms for mobilizing the necessary income in the medium and long term..

Today, the Tax Cooperation Platform is working on the basis of the Medium Term Revenue Planning Strategy with more than 20 countries. The initial phase of implementation involves two states: Papua New Guinea and Uganda. Ten more are in the formation assistance stage: Albania, Benin, Egypt, Indonesia, Laos, Pakistan, Rwanda, Senegal, Thailand and Ethiopia. 10 more countries are negotiating: Uzbekistan, Bangladesh, Vietnam, Georgia, Jordan, Cameroon, Malaysia, Morocco, Mongolia and Myanmа.

Based on the results of the seminar, it is expected to extend for another 3 years technical assistance to implement this strategy with the involvement of the Ministry of Finance, state tax and customs committees.

Deputy Director of the Department for Fiscal Affairs of the IMF, Huang Toro, highly appreciated the ongoing reforms and positive indicators of Uzbekistan, noted the importance of exchanging views and providing appropriate support in modernizing the economic system. On behalf of the foundation, he showed readiness for further cooperation and assistance in continuing the reform program.