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Economy 25/07/2024 Import customs duties on finished jewelry to be reduced
Import customs duties on finished jewelry to be reduced

Tashkent, Uzbekistan (UzDaily.com) – Uzbekistan is reducing import customs duties on finished jewelry. The changes are outlined in the Presidential Decree “On measures for the further development of the jewelry production sector and ensuring its competitiveness”.

According to the decree, starting from 1 November 2024, finished jewelry produced abroad will be prohibited in retail if it lacks documents proving the payment of customs duties. Jewelry items accounted for before 1 September 2024, in accordance with accounting legislation, are exempted.

Scrap and waste of precious metals, as well as metals plated with precious metals, will be included in the list of goods for which export is subject to licensing. Exporting semi-finished jewelry items without certification from the Assay Inspection will be prohibited.

Individuals are allowed to export finished silver jewelry weighing up to 200 grams and gold or other precious metal jewelry weighing up to 65 grams without filling out a passenger customs declaration. Items exceeding these limits will require a declaration for export.

Starting from 1 January 2027, import customs duties on finished jewelry imported into Uzbekistan will be reduced from 20 percent to 10 percent.

Additionally, until 1 January 2025, accelerated jewelry assay points will be established in Tashkent, Bukhara, Namangan, Samarkand, and Khorezm regions.

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