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Govt to levy taxes on gemstones
The government plans to levy taxes on gemstones to ease their fluctuating prices as well as to boost state revenues
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The government plans to levy taxes on gemstones to ease their fluctuating prices as well as to boost state revenues.
Industry Minister Saleh Husin said on Tuesday that the government would formulate a regulation stipulating a 5 percent tax on stones valued at Rp 1 million (US$77) and higher, while stones valued below Rp 1 million would be levied a 0.5 to 1.5 percent tax.
'We have proposed the plan to the Finance Ministry for endorsement,' Saleh said during the opening of a gemstone exhibition in Jakarta.
According to the ministry's director general of small and medium industries, Euis Saedah, some of the stones could be priced at Rp 1 billion, depending on quality and rareness.
'We try to certify the stones to ensure their originality and quality,' Euis said, adding that the ministry had provided lots of support to gem crafters, such as through training and crafting equipment. (ind/ren)(++++)
