Uzbekistan abolishing excise tax, duties on import of certain goods

Business Materials 8 September 2017 21:20 (UTC +04:00)

Tashkent, Uzbekistan, Sept. 8

By Demir Azizov – Trend:

Uzbekistan will abolish excise taxes on a number of imported goods starting Sept. 10 in line with a decree of President Shavkat Mirziyoyev.

The decree provides for cancellation of excise taxes on imported natural resin, wire of non-alloy steel, nonwoven fabric, drops and solutions for contact lenses, video recording equipment and other products. In total, eight commodity groups will be exempt from the excise tax.

Besides, zero customs duty will be introduced for 42 types of products, including a number of metals (alloy steel, lead, tin and products made of them), yarn and plant fiber, rubber, polymers, finishing materials.

This is expected to limit the growth of prices in the Uzbek consumer market and contribute to reducing the prime cost of locally manufactured products and increasing their competitiveness.