Jewelry imports in Tajikistan are exempt from VAT
Jewelry imports in Tajikistan exempt from VAT; Tajikistan’s parliament has announced the abolition of VAT on jewelry imports to prevent smuggling into the country.
In this regard, “Jamshid Karimzadeh,” the Deputy Minister of Tajikistan, said: “By implementing the new law, the smuggling of such products into the country can be prevented.”
Karimzadeh said: so far, the VAT on jewelry has been between 40-42%.
He said: “With the abolition of this tax, traders will pay only 18 somoni (2.29 cents) and 3.6 somoni for each gram of gold products imported.”
The Deputy Minister of Tajikistan stated that one of the goals of these reforms is to prevent the smuggling of jewelry products, adding that the abolition of VAT will allow traders to import their products legally and reduce smuggling in this area to a minimum.
Karimzadeh added: in the first 9 months of last year, about 700 kg of gold was imported from Turkey, of which only 15 kg was legal.
According to official statistics, 97% of foreign jewelry is mostly imported from Turkey to Tajikistan and only 3% is produced domestically.