Industry News by Nemesis

UAE Outlines New Tax Rules For Gold, Diamond Dealers

June 4, 2018

 The UAE’s Federal Tax Authority (FTA) has outlined rules regulating gold, diamond and precious metals dealers and conference and events firms following a government decision to roll back value added tax on both industries.


The VAT reversed mechanism announced earlier this month applies to “precious metals such as gold, silver and platinum, used in trade in accordance with internationally accepted standards with a purity of 99 per cent or more” at the wholesale level but not at the retail level.

 

Source: Rough&Polished

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