Zambia suspended export duty on gemstones
According to the supplement to the Republic of Zambia Government Gazatte, dated December 13, 2019, Statutory Instrument 82 of 2019 of The Customs & Excise Act, Customs & Excise on precious stone export duty is being suspended.
In exercise of powers contained in section 89 of the Customs & Excise Act, the order is made & that says, 1: This order may be cited as the Customs & Excise (Precious Stones) (Export Duty) (Suspension) Order, 2019 & shall come into operation on January 01, 2020. 2: The export duty payable on precious stones of heading 71.03 specified in the Schedule is suspended to free.
Duly signed by Dr B K E Ng’andu, Minister of Finance, Zambia expresses the Schedule, Regulation 2, Tariff Heading 71.03 as, Precious stones (other than diamonds) and semi-precious stones, whether or not worked or graded but not strung, mounted of set; ungraded precious stones (other than diamonds) & semi-precious stones, temporarily strung for convenience of transport.
Upon the published Gazette, Gemfields said, they are pleased to announce that the Government of the Republic of Zambia has suspended the 15% export duty on precious gemstones (excluding diamonds) with effect from 1 January 2020.
