The common currency - KCS was disbanded on February 8, 1993. The Slovak and Czech parliaments respectively approved bills for the creation of an independent currency in each republic. There are no quantitative restrictions on imports, and import licences are not needed in order to import goods. Importer licenses are required for a few strategic items, namely - crude oil, natural gas, firearms and ammunition and narcotics. Licenses will be issued by the Czech License Office, Ministry of Trade and Industry.
Licenses issued in the Czech Republic are valid only in the Czech Republic.
Imports of medicines are subject to special regulations of the Ministry of health. Goods imported into the Czech Republic as samples are admitted duty free, provided the quantity does not exceed that customary for commercial samples. Valuable samples may be temporarily imported under bond. Goods are dutiable ad valorem on the CIF value. Specific rates are usually based on the nett weight.