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In the context of the budgetary control, the Federal Government has decided to introduce a new tax system for the diamond industry. As a result of this tax regime, Belgian diamond traders will be taxed on their turnover instead of the profits from their diamond trading activities. The government will further develop the technical details of this new legislation in the coming weeks.
Registered diamond dealers must apply enhanced customer due diligence measures if their customers are domiciled or established in one of the following 5 jurisdictions or if they have any other links to these jurisdictions or if they are involved in a transaction or a business relationship with them in any capacity: Iran, Democratic People’s Republic of Korea, Algeria, Ecuador and Myanmar.
On Friday 27 March, Herman Van Rompuy presented the keynote speech at the Antwerp Diamond Seminar on the financial challenges currently facing the diamond industry. The Seminar featured a lively discussion panel of industry financial experts and was attended by over 250 members of the diamond community.
The AWDC has taken note of the government decision to introduce a tax system calculated on a lump-sum basis. “Diamantaires are willing to pay higher taxes in exchange for financial predictability and legal certainty”, says Ari Epstein, CEO of the Antwerp World Diamond Centre.
The final installment of 500,000 carats of seized diamonds with an estimated value of a little under $29 million has finally been returned to Zimbabwe, bringing a complicated dispute to a close. Denying an attempt by a South African mining company to attach diamonds to an unrelated case against the State of Zimbabwe, a Belgian Court of First Instance ruled that the diamonds in question were not in fact the property of the State but the property of the Zimbabwean mining companies that produced them. This ruling has now made it through the appeals process and has been implemented in full.
From 4 – 7 May 2015, the Antwerp World Diamond Center will organize the Turkish Visitor Program in collaboration with HRD Antwerp and Borsa Istanbul. During this three-day program a top delegation of Turkish diamond jewelers, jewelry wholesalers and manufacturers will visit Antwerp, giving you the unique opportunity to expand your business into the growing Turkish market.
AWDC is looking to purchase the following stones:
1 round 0.50 ct, brilliant, VS2, G/H
1 round 1.00 ct, brilliant, VS2, G/H
1 round 1.00 ct, brilliant, SI1, G/H
If you are selling stones that match the description, please contact Liesbeth Moereels by sending an e-mail to liesbeth.moereels@awdc.eu before Wednesday the 1st of April.
We are looking for the best price/quality ratio.
Former President of the European Council Herman Van Rompuy paid a visit to the Antwerp diamond industry today. He received a tour behind the scenes and concluded his visit with a speech at a seminar organized by the Antwerp World Diamond Centre on the financial challenges facing the global diamond industry.
