The Thai government is lifting the 20 percent tax on imported gems and jewelry products sold at the 2013 Bangkok Gems and Jewelry Fair in September.
Foreign exhibitors will be allowed to bring in and sell gems and jewelry from other countries duty-free at the 52nd fair set for Sept. 6–10, while local exhibitors can reduce their selling prices after cutting down on imported parts and products’ costs.
“We are privileged to have the government working alongside us so directly,” Somchai Phornchindarak, president of the Thai Gem and Jewelry Traders Association and chairman of the Gems, Jewelry, and Precious Metal Confederation of Thailand, said in a statement. “The government has been with us every step of the way, helping to promote exports as well as developing overseas markets via trade fairs, road shows and exceptional exhibitions.”
The concession is considered as a temporary grace period—15 days before and after the BGJF52. Pearls, precious stones and metals, imitation jewelry, and coins are all covered by the measure.
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