According to media reports from the Cheboksary Economic Forum, Deputy Finance Minister Alexei Moiseev, who is attending the forum, said that the government of the Russian Federation approved the introduction of a zero VAT rate on rough and polished diamonds.
“The government has approved amendments to the Tax Code, which provide for the introduction of a zero VAT rate on rough and polished diamonds,” he said on the sidelines of the Cheboksary Economic Forum.
At the same time, the deputy minister noted that, just like the abolition of the tax rate on gold, this decision will facilitate growth in demand for investment diamonds within Russia.
Referring to Gokhran's possible purchase of rough diamonds from ALROSA, Moiseev said that the Ministry of Finance is ready to do this, but there is no need as the company has enough financial reserves.
It is reported, however, that ALROSA shareholders confirmed their readiness to discuss such support for the company from the Ministry of Finance.
Exclusive
Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future
Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...
28 october 2024
Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki
The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...
14 october 2024
James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration
London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...
07 october 2024
Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products
Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...
30 september 2024
Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices
The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...
23 september 2024
