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IMF URGES EXTENSIVE REFORMS FOR ZIMBABWE
09 July 2017
Following the yearly bilateral discussions which took place in early May this year between the International Monetary Fund (IMF) and the Zimbabwe representatives, the IMF has now publis...
INDIA’S NEW TAX REGIME: 3% GST ON UNSORTED ROUGH DIAMONDS
04 July 2017
With the implementation of the new Goods and Services Tax (GST) in India as of July 1st, there is now a 3 percent GST on polished diamonds and 0.25 percent on rough diamonds.
SURAT DIAMOND CENTRE SHUTS DOWN TO PROTEST NEW GST REGIME
18 June 2017
Diamond brokers and diamond merchants in Surat, India, shut down their businesses on Saturday, June 17th in protest at the new Goods and Services Tax (GST) regime set to come into force...
ZIMBABWE PARLIAMENT HEARS REPORT ON DIAMOND MINING COMPANIES’ CONSOLIDATION
07 May 2017
The Zimbabwe Parliament last week heard the Portfolio Committee on Mines and Energy’s First Report on the Consolidation of Diamond Mining Companies, which was presented by Dr. Shumba.
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...
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