» AUCC INTRO
The American-Uzbekistan Chamber of Commerce (AUCC) seeks to promote trade and investment ties, cultural exchanges and bonds of friendship between the United States of America and the Republic of Uzbekistan. In performing these functions, the AUCC places primary emphasis on serving the needs and interests of its members.
Interview with AUCC Chairperson Carolyn Lamm Before 2012 Uzbekistan-US Annual Business Forum
Get Flash to see this player.
» AUCC events
» Contact us
A draft government decision agreed to revise and optimize import customs duty rates
Tashkent, Uzbekistan (UzDaily.com) -- A thorough analysis of the state of foreign trade processes in the Republic of Uzbekistan showed that at current rates of customs duties, negative effects are possible for the development of the real sector of the economy: a situation is created in which importing goods becomes profitable and industries can lose investment attractiveness and reorienting on imports of finished products.
In accordance with the recommendations of the Council on Tariff and Non-Tariff Regulation, as well as following discussions at meetings and round tables with a wide range of entrepreneurs, manufacturers and business representatives, a draft government decision has been agreed on revising and optimizing the rates of import customs duties based on the following principles:
- natural raw materials and important socially significant goods (cereals, flour, ores and metal concentrates) - the customs duty rate is 0%;
- commodities; goods not produced in the republic; socially significant goods; goods that have not been imported in the past 3 years - the rate of 2% - 5%;
- semi-finished or finished products, the production of which is inefficient from the standpoint of natural and climatic conditions or economically impractical; ready-made and processed food products produced in the country, but not meeting current demand; goods whose production is increasing; food products that have a relative negative impact on human health - the rate of 10% - 15%;
- agricultural products produced in sufficient quantities and exported; finished products of final consumption, produced in the republic in volumes covering demand; luxury goods and non-essential goods having a negative impact on human health (tobacco and alcohol) - the rate of 20% - 30%.
At the same time, for 197 commodity items not produced in the republic, it is planned to reduce the rates of customs duties: from 5% to 2% - for 89 commodity items, from 10% to 5% - for 79 items, from 20% to 2% - for 7 positions. Also, based on market conditions, the amount of duties for 2,818 items of goods will be left unchanged.
When establishing the proposed size of customs duties, the arithmetic average rate will be about 9%, which will exceed the current value of 5.6%, but will be significantly lower than the level of 2017 - 14.9%.
At the same time, the number of commodity items subject to zero rate will decrease from 62.7% to 40.1%: more than 2,500 items of imported goods will be taxed at a rate of 2%, not previously used in the republic.
It should be noted that the arithmetic average rate fixed at the time of joining the WTO of the Republic of Korea was 16.5%, Israel 22%, Indonesia 37.1%, Norway 20.1%, India 48.5%, Iceland 24% and Morocco - 41.3%. In addition, the zero rate of customs duty, for example, in the EU applies to 16.7% of goods, India - 2.1%, EAEU - 15.8%, Turkey - 37.5%, and, for example, in Iran zero rate does not apply at all.
The establishment at this stage of new customs tariff rates will create favorable conditions for the development of high-value-added production, optimize imports and create prerequisites for concluding mutually beneficial bilateral free trade agreements.
At the same time, it should be noted that the Council for Tariff and Non-Tariff Regulation on a permanent basis will monitor domestic and foreign markets, as well as foreign trade trends and price conditions, which will allow for prompt response to changes, bearing in mind the revision of the established rates of import customs duties.
» Welcome to new member
XTELLUS CAPITAL PARTNERS - Xtellus Capital Partners is a New York based broker-dealer and specialist investment bank.
New York Time 07:54:06
» Weather in Tashkent
17 ° C
16/33 ° C