MarketsRussia has approved zero VAT on the purchase of...

Russia has approved zero VAT on the purchase of polished and rough diamonds

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The Cabinet of Ministers has approved amendments to the Tax Code, which provide for the introduction of a zero rate of VAT on the purchase of polished and rough diamonds by citizens. This was stated by Russian Deputy Finance Minister Alexei Moiseev during the Cheboksary Economic Forum, reports the agency Prime.

“Yesterday, the government approved amendments to the tax code, which provide for the introduction of a zero VAT rate on rough and polished diamonds,” he said.

According to Moiseev, there is talk of zeroing the tax rate by analogy with what it was like with gold.

“Resetting the investment rate of diamonds will allow them to be sold more efficiently in Russia,” Moiseev said.

Earlier, the newspaper Kommersant reported that Russia is cutting diamonds in key markets – India and Europe. However, the revenues of Russian companies have not decreased due to the rise in prices for raw materials.

Source: rambler

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