Uzbekistan looks to reduce custom duties on imported foreign cars
BAKU, Azerbaijan, Mar. 11
By Ilkin Seyfaddini - Trend:
Uzbekistan's Uzavtosanoat holding has initiated a program to reduce customs duties on imported foreign cars in Uzbekistan, Trend reports citing UzAuto Motors.
UzAutoSanoat - Uzbek holding company, which controls automobile manufacturing SKD (Semi Knocked Down) enterprises: GM Uzbekistan, Samarkand Automobile Plant, MAN Auto-Uzbekistan, "GM powertwain Uzbekistan" and automobile enterprises of components.
"As part of the global reform of the automobile market of Uzbekistan, in order to create a healthy competitive ecosystem, Uzavtosanoat initiated a program to reduce customs duties on imported foreign cars to the Uzbek market, which will be considered by the responsible government agencies in the near future. Growing competition in the domestic market will further optimize the management of UzAuto Motors, increase the competitiveness of the company, as well as the quality and availability," Uzavtosanoat said.
Uzbekistan has long had prohibitive rates of import customs duties and excise tax for importing cars. A small exception was made for premium cars and electric cars. However, since January 2020, the privileges introduced a year ago for expensive foreign cars worth more than $40,000 have been abolished.
There are certain exceptions for cars manufactured in Kazakhstan, Russia and Ukraine. They have privileges for customs clearance. Benefits are also granted if the car is produced in a country with which Uzbekistan has a free trade zone agreement.
Recently, UzAuto Motors announced new prices for passenger cars. On average, the prices of passenger cars have risen by 15-20 percent.
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