Comprehensive changes are being implemented in the legislation regulating the circulation of precious metals and stones, as well as the production of jewelry products in Uzbekistan. This was reported by Upl.uz.
These measures are aimed at developing the sector, increasing transparency, and effectively combating violations. According to the decision of the President of the Republic of Uzbekistan, Shavkat Mirziyoyev, on "Additional measures to support the production of jewelry products," starting from January 1, 2026, the exemption from value-added tax related to the sale of jewelry products and semi-finished products made from precious metals and stones will be abolished.
Additionally, the fee established for the sale of jewelry items made of gold in retail will also be abolished. In order to support entrepreneurs, 80% of the VAT paid by those engaged in the production or sale of jewelry products will be automatically refunded from the republican budget.
This mechanism will be in effect until January 1, 2028, and funds will be refunded by the 25th of each month. Furthermore, starting from September 1, 2025, the following innovations will be introduced: individual entrepreneurs will be granted the right to sell jewelry products at retail; the State Assay Inspection will organize services for checking and stamping the assay of jewelry items in Tashkent, Nukus cities, and regional centers; also, individuals who provide information about violations related to precious metals and stones through the "Tax" mobile application will be rewarded with 50% of the amount collected from fines.
These measures aim to support legally operating entities and reduce violations in the sector.
