Uzbekistan imports cars worth $400M

Business Materials 27 June 2019 12:01 (UTC +04:00)

Baku, Azerbaijan, June 27

By Fakhri Vakilov –Trend:

For the six months of this year, Uzbekistan imported about 600 premium-class cars for more than $ 400 million, as well as 20 electric cars, Trend reports citing Podrobno.uz.

On January 1, 2019, a new procedure was introduced for the import of passenger vehicles worth $40,000 and above in Uzbekistan. They are subject to reduced rates of customs duties, and no more than two years should pass from the moment of release of the car. There was also a zero rate of customs duty for electric cars.

“These 600 premium cars were brought into the country within the framework of the new order. As for a small number of electric cars, the problem is the lack of infrastructure for them, rather than customs,” representative of the State Customs Committee during a press conference in Tashkent said.

The import duty is not applied to premium cars, which only require pay excise tax and VAT to be paid. The aggregate rate of customs payments is 44 percent of the value of the imported car.

If a car, for example, costs $40,000, then about $17.600 will have to be paid for its customs clearance.


Follow author on Twitter:@vakilovfaxri