Zero VAT rate applies to jewelry products

On June 19, President Shavkat Mirziyoyev reviewed plans to further develop the jewelry industry, support the production and sale of jewelry, and boost the export of finished goods. This information was reported by the President's press service.

The discussions focused on improving the operations of the "Uzbekzargarsanoati" association, expanding its authority, and reorganizing its management structure. To support manufacturers in this sector, it was suggested to extend the benefits available to members of the "Hunarmand" association to individual entrepreneurs within the "Uzbekzargarsanoati" association.

Additionally, there was consideration of applying a zero rate of customs duty and value-added tax on equipment, packaging, and labeling materials not produced in Uzbekistan but used in the jewelry industry, effective until October 1, 2026. Plans to establish special jewelry centers encompassing production, exhibition, and trade areas were also discussed.

Particularly focusing on boosting jewelry exports, it was proposed to set a zero customs fee rate for jewelry exported from Uzbekistan to the USA under the GSP system.

Moreover, President Mirziyoyev directed the creation of a development program for local jewelry production, to be implemented until 2027.