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Frequently Asked Questions on VAT

Last updated on 17 August, 2018


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Does the supplier need to report taxes for the supply of gold and diamonds?

No, if the registered buyer intends to resell the supplies or use them to make products  where the primary component is gold or diamonds, then the supplier will not be responsible for reporting taxes for that particular supply. The buyer will still be required to account for the tax in their tax return.

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