Jewelers ask government to set zero import duty on small diamonds

MOSCOW, Aug 21 (PRIME) -- The jewelers' association, including ALROSA, Sokolov and Adamas, has asked the government to set a zero import duty on diamonds smaller than 0.3 carats, now at 10–15%, according to a letter seen by PRIME on Monday.

"In order to improve the economic state of national jewelers, create a favorable environment for the development of the national industry and to meet domestic demand for small diamonds, the Association of jewelers is asking for consideration of a separate sub-item of cut diamonds… of less than 0.3 carats with a subsequent annulment of the import duty on this category of goods," the letter said.

Association CEO Vadim Serov said that the current duty is costly for the companies paying taxes duly and cuts their competitiveness as compared with the black market players.

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