Tajikistan abolishes VAT and excise tax for jewelry imports, imposes common customs tariff on them

30/06/2016 16:11
Asia-Plus
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DUSHANBE, June 30, 2016, Asia-Plus – Deputies of Tajikistan’s lower house (Majlisi Namoyandagon) of parliament have supported amendments proposed by the president to the country’s law on the national budget for 2016.

A regular sitting of the second session of Majlisi Namoyandagon of the fifth convocation, presided over by its head, Shukurjon Zuhurov, was held on June 30.

Speaking at the session, Deputy Finance Minister, Jamshed Karimzoda, noted that the proposed amendments provided for exempting the imported jewelry goods from value added tax (VAT), excise tax and customs duties this year.

“A total volume of taxes and duties amounts to 40-42 percent of the total cost of gold and silver jewelry imported into the country,” said the deputy minister.  “Instead of them, a common customs tariff will be imposed on jewelry imports at the rate of 18.00 somoni per one gram of gold jewelry and 3.60 somoni per one gram of silver jewelry.”  

According to him, this measure aims at preventing smuggling of jewelry into the country and corrupt bargains as well as liquidating illegal market for jewelry in the country.

“Over the first nine months of 2015, more than 700 kilograms of jewelry goods were delivered to the country from Turkey by air alone, and only 15 kilograms of them were delivered legally with payment of all types of taxes,” Karimzoda said, noting that direct damage from illegal jewelry imports amounted over the report period to nearly six million U.S. dollars.

He further added that foreign jewelry producers accounted for more than 97.5 percent of jewelry goods being sold in Tajikistan.    

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