ANNOUNCED AS TEMPORARYNo
EEC Collegium Decision Nr. 51 of 8 April 2014 reduced the import duties on certain components for the manufacture of watches.
Temporarily, for the period 10 May 2014 tp 05 September 2017, no import duty (previously at 9%) will be collected on the main bodies of non-precious metal wrist and pocket watches and parts thereof.
For the same period, the import duties on lanyards, belts and bracelets of precious metal are reduced from 15% to 5% of the customs value.
On a permanent basis, the import duties on electricity-operated are reduced from 15% to 10% and those on self-winding watch mechanisms from 15% to 5%.
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