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How does it work?

The total Cost of Goods Sold (COGS) is defined as a lump sum of 97.9% of the turnover of a diamond trading company generated by genuine and habitual diamond trade. As a result, the gross margin used for taxation purposes is 2.1% of that turnover. Subsequently, expenses and tax deductions may be deducted from that gross margin. The net taxable income after deductions however cannot be lower than 0.55% of turnover. A slightly higher floor rate of 0.65% will be applicable only during the first year of implementation of the Carat Tax.

The turnover generated by genuine and habitual diamond trade is the sum of all diamonds sold during a given tax period, as reported on the invoices issued by the diamond trading company. This significantly increases the clarity and predictability of the total taxes due. Like in the current fiscal regime, taxable income from diamond trade implies that at least one director receives remuneration that is no lower than a certain threshold.

The total Cost of Goods Sold (COGS) is defined as a lump sum of 97.9% of the turnover of a diamond trading company generated by genuine and habitual diamond trade. As a result, the gross margin used for taxation purposes is 2.1% of that turnover. Subsequently, expenses and tax deductions may be deducted from that gross margin. The net taxable income after deductions however cannot be lower than 0.55% of turnover. A slightly higher floor rate of 0.65% will be applicable only during the first year of implementation of the Carat Tax.

The turnover generated by genuine and habitual diamond trade is the sum of all diamonds sold during a given tax period, as reported on the invoices issued by the diamond trading company. This significantly increases the clarity and predictability of the total taxes due. Like in the current fiscal regime, taxable income from diamond trade implies that at least one director receives remuneration that is no lower than a certain threshold.

Program

Day 1

Handelsbeurs, Borzestraat 31, 2000 Antwerp

08:45 – 09:15

DOORS OPEN – REGISTRATIONS START

09:15 – 09:20

EVENT START

09:20 – 09:30

Welcome: Ravi Bhansali, AWDC Vice President

09:30 – 09:55

Keynote: H.E. President of Botswana, Mr. Duma Gideon Boko

09:55 – 10:10

Setting the scene: Current Market Conditions – by Edahn Golan

Day 2

Diamond Club, Hoveniersstraat 35, 2018 Antwerp

09:00 – 09:25

Registration

09:25 – 09:30

Event Start

09:30 – 09:40

Welcome: Karen Rentmeesters and Gaetano Cavalieri

09:40 – 09:50

Formal signing of the Woman Empowerment Principles (WEPs) by the Antwerp World Diamond Centre (AWDC) – Iris Van der Veken and Karen Rentmeesters

09:50 – 10:10

Setting the scene on Gender – Iris Van der Veken and Emilie Van Landeghem