Contribution to the Internal Compensation Fund

Based on the law of 12th of April 1960 establishing the Internal Compensation Fund and the Royal Decree of 21st of November 1960 establishing the statutes of the Internal Compensation Fund, all natural and legal persons who have an activity in the diamond trade or diamond industry (whether it be full time or part time), are obliged to pay a trimestral contribution to the Internal Compensation Fund in order to allow employers of diamond workers (being cutting, adjusting, ..) to pay out benefits to the diamond workers.

The compensation payable is 0,006% of the value of each diamond transaction.  A transaction is each commercial agreement creating an increase in value. It does not include simple shipments or consignments in such cases where no profit is established.

Furthermore, the compensation of 0,006% is not payable for the first turnover amount of 5.000.000 euro in transactions, per company and over a period of one year.

The compensations are paid to the Fund, at the end of each trimester, as defined in the laws on social security.  

An employer who wishes to benefit from the Fund, can send an application for compensation-benefits to the Fund.

For more information, please contact the Fund at +32 3 213 50 30