Lawmakers have endorsed amendments proposed by the government to the country’s law on the national budget for 2017. The amendments, in particular, provides for lowering rates of taxes for jewelry goods being imported to Tajikistan.
The last sitting of the third session of the Majlisi Namoyandagon (Tajikistan’s lower chamber of parliament) of the fifth convocation, presided over by it head, Shukurjon Zuhurov, took place on June 30.
Presenting the amendments to lawmakers, Deputy Finance Minister, Ms. Mehirnamo Jonmamadova, noted that the term of exemption of jewelry imports from payment of the value added tax (VAT), excise tax and customs duties is extended until the end of 2017.
Recall, the Majlisi Namoyandagon on June 30, 2016 endorsed amendments providing for exempting the imported jewelry goods from value added tax (VAT), excise tax and customs duties in 2016.
The value added tax, excise tax and customs duties were replaced with a single customs tariff at the rate of 18.00 somoni per one gram of gold jewelry and 3.60 somoni per one gram of silver jewelry.
This measure reportedly 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. The direct damage from illegal jewelry imports amounted over the report period to nearly six million U.S. dollars.
Foreign jewelry producers reportedly account for more than 97.5 percent of jewelry goods being sold in Tajikistan.
