Diamond cutters are concerned about the cost implications of the
Diamond Export Levy Bill, and fear it could see them paying
millions of rands in export levies for diamonds sent overseas for
testing. Briefing Parliament’s finance portfolio committee during
hearings on the draft legislation on earlier this month, SA Diamond
Council official Brian Gutkin urged MPs to ensure the measure
exempted cutters from paying levies on such stones.
„There are many instances when we send diamonds overseas to be
tested for authenticity and other things.
„This is not exporting, as the diamonds will be sent back to us
once the testscrushers for building waste have been conducted,“ he said. The bill is aimed at
promoting the local diamond beneficiation industry by discouraging
the export of uncut diamonds; it proposes a five percent levy on
all rough diamond exports.
The measure is likely, once promulgated, to see South Africa’s
biggest diamond producer, De Beers, fork out millions of randvsi crusher schematic in
export levicrawler impact crusher usedes. The diamond giant exports almost all its locally
mined stones.
Notwithstanding, De Beers Consolidated Mines director Barend
Petersen told the hearing his company was fully behind the bill,
saying what it would pay in levies could easily be offset by the
credits it stood to gain from importing diamonds. „Yes, it is true
that we export a large quantity of our uncut diamonds, but most of
them are brought back to the country to cater for the domestic
market,“ he said.
The SA Diamond Producers‘ Organisation (SADPO) said the bill was
not clear on the determination of the value of a diamond. „At the
moment, we have a value determined by the state, which is 30% lower
than the international value.“ He said the industry would prefer
the international value, as it was more competitive than the
domestic one.