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Uzbekistan to cancel excise tax on imported cars

www.timesca.com/
8 June 2020

Uzbekistan will abolish excise tax on imported cars and certain types of commercial and agricultural vehicles starting from August 1, Xinhua news agency reported with reference to the Uzbek Justice Ministry.

Uzbekistan President Shavkat Mirziyoyev's decree, signed on June 3 and providing for the abolition of the current 30-percent excise tax for imported cars, is aimed at streamlining foreign economic activity and developing the domestic car market by encouraging competition, the ministry said.

Most Uzbek citizens have to buy cars made by the state-run company Uzavtosanoat as customs duties make imported cars more expensive.

Uzavto Motors, a former joint venture of Uzavtosanoat with U.S. auto producer General Motors, currently produces around 250,000 motor vehicles per year.

Uzbekistan, along with neighboring Kazakhstan, is a major manufacturer and exporter of motor vehicles in Central Asia.