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    Diamond company turnover taxed at 0.55%

    ©Belga
    ©Belga

    The “carat tax” set out in the project for a new law will tax the diamond industry’s “net benefit” by 0.55% every year. This information was published in both De Standaard and Le Soir on Tuesday. In other words, this new tax will be 0.55% of the turnover registered by diamond companies. This tax should earn the Public Treasury 50 million euros.

    The tax, which still has to be approved by the Minister’s Council, has not been set higher than 0.55% as several studies have shown that diamond companies make a profit of between 1 and 1.5%. They can also not benefit from notional interest, Le Soir explained.

    The Michel government announced the introduction of a tax of the diamond industry as part of a budget adjustment.

    Maria Novak (Source: Belga)