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Presentation. On General Principles of Developing Intergovernmental Fiscal Relations in Tver Oblast as of 2005. Taxes and Tax Shares Assigned to Municipalities in 2006:. 40%. 40%. 25%. 15%. 30%. 30%. 20%. 10%. 10%. 10%. 5%. 5%. 5%. 5%. 5%. 0%. 5%. 5%. 0%. 5%.

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  1. Presentation On General Principles of Developing Intergovernmental Fiscal Relations in Tver Oblast as of 2005

  2. Taxes and Tax Shares Assigned to Municipalities in 2006: 40% 40% 25% 15% 30% 30% 20% 10% 10% 10% 5% 5% 5% 5% 5% 0% 5% 5% 0% 5%

  3. Funds for Financial Support Fund for Financial Support to Districts (Cities), Capitation component (additional shares) 5% of PIT; Fiscal capacity equalization grant; Regional Fund for Financial Support to Settlements, Capitation approach (additional shares) 5% of PIT; District Fund for Financial Support to Settlements, Fiscal capacity equalization grant; Social Expenditures Co-Financing Fund, objective: subsidies to the most important and high-priority expenditures on local budgets. Municipal Development Fund, Objective: shared financing of municipal programs and investment projects that are crucial for development of the region. Fund for Local Finance Stabilization, Objective: partial compensation of losses to municipal budgets sustained due to the migration to a new system of intergovernmental fiscal relations. Fund for Municipal Finance Reform, Objective: competitive allocation of subsidies to municipalities that implement their reform agendas Compensatory Fund, Objective: to finance subventions to implement federal and regional laws that relate to social sector.

  4. Composition of Funds for Financial Support 2 0 0 5 2 0 0 6 Changes in the Funds’ composition in line with the Budget Code of the Russian Federation (ratio (FFS+MDF+SECF)/(SF+FMFR) 2005 - 70%/30%. 90%/10% - 2006 • increase in SECF, MDF, FFS. • reductions in Stabilization Fund;

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