BAKU, Azerbaijan, June 4
By Ilkin Seyfaddini - Trend:
Uzbekistan will abolish the excise duty on import of cars and tractors, Trend reports citing the Ministry of Justice of Uzbekistan.
Excise duty on import of cars will be abolished from August 1, 2020. This was approved by the decree of President of Uzbekistan Shavkat Mirziyoyev, on June 3, 2020.
According to the decree, the following vehicles are exempt from taxes: tractors, motor vehicles (designed to transport 10 people or more), light cars and other motor vehicles, mainly designed to transport people, including vans and racing cars.
"This is expected to have a positive impact on domestic market competition. Imports of cars are now subject to a complex excise tax rate, which is calculated on the basis of engine power. The rates of customs duty remain in force," reads the report.
In the period from January through April 2020, compared to the same period of 2019, the car manufacturing industry of Uzbekistan increased the production 1.2 times, and car engines by 1.2 times.
Moreover, in July 2020, Uzbekistan will start production of Volkswagen cars at Jizzakh free economic zone.
---
Follow author on Twitter: @seyfaddini