BAKU, Azerbaijan, Feb. 24
By Klavdiya Romakayeva - Trend:
Uzbekistan will allow the sale of jewelry made of precious metals and precious (semi-precious) stones on the domestic and foreign markets through e-commerce, Trend reports referring to Norma information and legal portal.
President of Uzbekistan Shavkat Mirziyoyev signed a decree on measures to create favorable conditions for the further development of the jewelry industry.
According to the decree, manufacturers were allowed to sell products on the basis of a direct contract or with a deferred payment condition. It was noted that the procedure is valid until March 1, 2023.
In addition, starting from April 1 it is allowed to brand jewelries by mechanical (shock) or laser methods. The branding method will be determined by jewelry manufacturers independently.
Also, companies with a license for refining are allowed to sell measured ingots of their own production at their own prices (but not less than the price of the morning fixing of the London Precious Metals Exchange and the Central Bank rate).
Furthermore, according to the decree, pearls, diamonds and precious metals are not subject to import customs duties.
Also, jewelers will be able to apply to the National Bank of Uzbekistan for Foreign Economic Activity for microcredits on preferential terms (in the amount of up to 300 million soums ($28,440) for a period of three years, including a grace period of up to six months).
Moreover, it was instructed to prepare a draft document that would exempt from VAT the turnover for the sale of scrap and waste generated in the production of precious metals, measuring plates and granules of precious metals, precious and semi-precious stones, as well as semi-finished products made of precious metals and precious stones.
---
Follow the author on Twitter: @romakayeva