Trade-in program to be launched on October 1

In Uzbekistan, the trade-in program will be launched from October 1, a new presidential decree says.

Within the framework of this program, the followings are not subject to mandatory notarization of the sale contract by official dealers:

- when selling used vehicles by the introduction of the procedure for issuing the buyer a reference-account of the established sample;

- when buying new vehicles, which are manufactured by local auto plants, from official dealers. 

“The official dealer does not pay a fee for the purchase of used cars when they are registered with the bodies of the Ministry of Internal Affairs,” the statement said.

It is also indicated that when a used auto of individuals was sold by an official dealer, the tax base for calculating the value-added tax (VAT) is defined as the positive difference between the selling price and the book value of the retiring facilities, which includes the VAT amount.

It should be recalled that implementation of the trade-in program in Uzbekistan became known in early June.

Employees of the JSC Uzavtosanoat believe that this will contribute to an increase of new cars sales. In general, it will help update the population’s fleet.