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Check your shipment status |
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| Malca-Amit Antwerp BVBA |
| Hoveniersstraat 30 |
| 2018 Antwerpen |
| Belgium |
| Tel. 32-3-234-1934 |
| Fax. 32-3-233-8884 |
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What is the import tax in South Africa? |
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What is the import procedure of polished diamonds & jewellery in Israel? |
| Question: |
What is the import tax in South Africa? |
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| Answer: |
We will explain this question with the help of an example.
| Rough/Polished Diamonds: |
| invoice value |
100,000.00 usd
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| Customs add 10% on invoice value |
10,000.00 usd
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110,000.00 usd
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110,000.00 $ x 14% (VAT) =
15,400.00 usd (15.4%) |
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| Question: |
What is the import procedure of polished diamonds & jewellery in Israel? |
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| Answer: |
Polshed diamonds:
Polished diamonds can be imported by Israel Companies only. After receiving the parcel from Malca-Amit the customer must go to the diamond office & ask for import clearance or inspection clearance.
- Import clearance - customer pay´s a Tax of 2 permil at his bank & then returns to the diamond office for customs clearance.
- Inspection clearance - the customer receives permission from customs to inspect the parcel for a period of three days (maximum seven days), afterwards he must decide to pay the Tax (2 permil) & finish the import clearance procedure or to return the shipment to the shipper. If he decides to return the shipment, then the diamond office asks from us to pick up the shipment from him & make the return.
Exceptions:
Tourists can import polished diamonds only if the clearance for their goods will be made by an Israeli company. Because the Israeli Company does not want to pay the Tax they may clear it under inspection. The company or the tourist have three or seven days (after receiving extension from Diamond Office) to try to sell the stones. After that period they should get endoresement from the other company that decided to buy it & pay the Tax. If no sale is made they must return it to the sender.
Rough Diamonds:
Rough diamonds must be accompanied by a Kimberley Process certificate: Rough diamonds are free of Tax & VAT. Every one can import rough diamonds. Companies need an import license & tourists must arrange for a temporary license at the Diamond Office.
Jewellery:
Duty = 12%
VAT = 17% or Form - A
Jewellery can be imported only by companies which have VAT file. In Israel, Diamonds + Stones are exempt of VAT so most of the diamond companies cannot import Jewellery. Even so they can arrange temporary import for setting stones in Jewellery3 license (paying a limited bond), but must be specific for a special kind of item (like un set 18K gold rings). Companies importing under temporary import for setting stones in Jewellery are exempt of Tax, but they must export the Jewellery before bond expires. All Jewellery items must be approved by the Israeli Standard Institute or should get exemption on arrival.
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