(English) The President has reduced duties on the import of foreign cars

     Shavkat Mirziyoyev signed a decree on reducing duties on car imports by half. The rates will decrease in two stages.
     On February 21, President of Uzbekistan Shavkat Mirziyoyev signed a decree «On additional measures to stimulate the development of the domestic market of motor vehicles».
     According to the amendments, the rates of customs duties on car imports are reduced in two stages. From the moment of signing the document until January 1, 2023, the duties will be reduced by two or more times. We are talking about reducing not only the duty, but also additional coefficients that take into account the engine power of the car.
     From January 1, 2023, the rate will remain at 15%, but the additional coefficient will decrease.
     In addition, the duties will apply only to new cars, from the date of release of which no more than 1 year has passed at the time of crossing the customs border of Uzbekistan (for cars from 1 year to 3 years, the rates remain unchanged).
     For example, an imported car with an engine capacity of up to 1000 cc and a cost of $ 6000 under the current system of customs duties and duties (30 + $1.8 / cc + 15% VAT + 30 BRV recycling fee) will cost $ 11,790 without taking into account the importer’s surcharge. In other words, for the import of an imported «passenger car» it is necessary to pay an additional 96.5% of its cost (5790 dollars).
     With a reduction in customs duty (15+0.8 USD/ cu. see) the additional fee will be reduced to $ 3605 (60% of the cost of the car), and from January 1, 2023 – to $ 3145 (52.4%). Recall that at a meeting on February 14, Shavkat Mirziyoyev instructed the      Cabinet of Ministers to develop a draft resolution within three days on reducing the rates of customs duties on car imports by half.

     The President also said that customs duties on car imports should gradually «be reduced to zero.»

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