What is Customs duty?

A customs payment made when goods are imported across or exported across the customs border; under the Customs Code, customs payments include, along with duty, VAT, excise tax and customs fees. Duty rates are set by the President of the Republic of Uzbekistan. The rate may be ad valorem (a percentage of the customs value), specific (a fixed amount per unit of goods) or combined. In accounting for imported inventories and fixed assets, customs duties and fees paid are added to their cost (initial cost); only if the method of accounting for goods acquired for resale at purchase price has been chosen are such costs charged to period expenses (NAS No. 4, paragraph 30). The Customs Code lists the following types of customs duties:

• Import customs duty
• Export customs duty
• Special (special safeguard, anti-dumping and countervailing) customs duties
• Seasonal customs duties

Source: Bojxona kodeksi, 289-modda; Bojxona kodeksi, 290-modda; Bojxona kodeksi, 293-modda; 4-son BHMS, 15 va 30-bandlar; 5-son BHMS, 13-band