24 Hrs
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Tax Agency rejects gold craftsmanship price hike
The Tax Authority advisor denied any increase in gold craftsmanship (manufacturing) prices, explaining that the protocol signed in 2021 between gold manufacturers and the authority regulates the collection of value-added tax (VAT) on gold jewelry during the hallmarking process. It stipulates an annual fixed increase of 10% on the average craftsmanship cost solely for tax purposes. He confirmed that this increase does not lead to a rise in the actual craftsmanship price when selling to consumers. The aim is to facilitate tax collection and ease the burden on taxpayers and citizens.
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