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NEW AGREEMENT REACHED BETWEEN ISRAEL DIAMOND INDUSTRY AND TAX AUTHORITY
19 December 2016
The Israel Diamond Institute (IDI) reports that a new agreement has been reached between the Israeli diamond industry and the Israeli tax authorities. As part of the new arrangement, di...
INDIAN GOV’T INCOME DECLARATION SCHEME: $9.8B IN UNDISCLOSED ASSETS DECLARED
02 October 2016
India’s Finance Ministry has confirmed that its special four-month window for declaring “black money” – i.e. undeclared income – which ran from June through September, has resulted in 6...
BOTSWANA PARLIAMENT DEBATES AMENDMENT TO BILL CLASSIFYING DIAMOND SORTING, CUTTING, SELLING, AS ‘ESSENTIAL SERVICES’
02 August 2016
An amendment to Clause 46 of Botswana’s proposed Trade Disputes Act Bill 2015, is being hotly debated in Parliament.
INDIA’S INCOME TAX DEPT ISSUE 1,568 NOTICES IN SURAT
31 July 2016
The Surat Income Tax Department in India has reportedly begun proceedings against 1,568 alleged tax evaders in the diamond city of Surat, for not furnishing their PAN details during hig...
EC AUTHORIZES BELGIUM ‘CARAT TAX’; AWDC TO PROVIDE INFORMATIONAL SESSIONS
31 July 2016
The European Commission (EC) has issued a statement confirming that it has approved Belgium’s request to implement a new income tax regime for the diamond sector, based on a fixed gross...
ZIMBABWE SENDS STUDENTS TO CHINA FOR DIAMOND TRAINING; LOCAL COLLEGE CLAIMS NO ACCESS TO ROUGH FOR TRAINING
27 July 2016
The owner of Zimbabwe’s local college for diamond manufacturing training, Lovemore Kurotwi, has reportedly sent a letter to Zimbabwe’s Secretary of Mines, Francis Gudyanga, questioning ...
IMPLEMENTATION OF INDIA’S 1% EXCISE DUTY MOVES FORWARD; GJF TO OFFER INSTRUCTIONAL SEMINARS
19 July 2016
The All India Gems & Jewellery Trade Federation (GJF) has reportedly announced plans to conduct seminars for jewelry manufacturers, retailers and traders across India, with the aim of s...
SOUTH AFRICAN BENEFICIATION PROJECT SELECTS FIVE LOCAL DIAMOND MANUFACTURERS FOR SPECIAL PROGRAM
17 July 2016
Five Historically Disadvantaged South African-owned diamond cutting and polishing companies have been selected to participate in a special project, launched in partnership between De B...
INDIA’S FINANCE MINISTRY EXTENDS EXCISE DUTY REGISTRATION DEADLINE FOR JEWELERS
05 July 2016
In a Circular issued by India’s Ministry of Finance an announcement was made extending the deadline for jewelers to register for and pay the newly imposed central excise duty program w...
‘GLOBAL LAW ENFORCEMENT FORUM’ DISCUSSES DIAMOND TRAFFICKING & ILLICIT TRADE
30 June 2016
The United States Federal Bureau of Investigation (FBI) and the U.S. Department of State are holding a three-day “global law enforcement forum on diamond trafficking, illicit trade, and...
INDIA’S INCOME TAX DEPT ‘CRACKS SECRET CODE’ USED TO HIDE ‘BLACK’ MONEY
26 June 2016
India’s income tax department (I-T) has reportedly cracked a secret code system used by some companies in the diamond industry to hide the amounts of their investments made using “black...
INDIA PROPOSES INCENTIVES FOR GOLD AND DIAMOND EXPLORATION
21 June 2016
Indian Mines Secretary Balvinder Kumar has reportedly confirmed in an interview that the Indian government plans to begin auctioning the rights to up to 70 diamond and gold exploration ...
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