The change in the tax policy of the United Arab Emirates has become a major agenda item in the industry. Mustafa Atayık, Vice President of the Union of Jewelery Exporters, stated that Turkey is facing a very important opportunity after this change.
The United Arab Emirates began applying 5% import tax on all product groups from the beginning of January. It is announced that VAT will enter into force by January 2018. The BAE market, which is attractive due to tax advantages, may lose its appeal after new taxes. Mustafa Atayık, vice chairman of the Jewelery Exporters' Association, said that this sector could become one of the most important gold and diamond trade centers of the region and even the world. Atayık highlighted that there are problems to be solved in order to evaluate this opportunity as follows: '' We are a government, have a constructive approach to the solution of our problems. One of these is the regulation of SCT in importing precious stones. We have come to the point of solving structural problems. However, there are a few other problems that we need to solve so that we can gather the fruits of the work done up to this time. For example; Without solving the problem of KKDF we can not talk about the advantages of SCT exemption from the valuable stones market that also functions well. However, many foreign companies have recently come to my country. If the personnel of these companies can get permission to sit and work more quickly and smoothly, the number of foreign firms coming to my country will increase even more. We share these issues with the authorities. We've solved a lot of problems. These are not problems that can not be solved.
We will become the new hub of jewellery trade!
With these problems being solved, Turkey is well-known to be a gold and diamond center. These lands have been shaped underneath for 5000 years. We have technology used in the production of jewelry for giant factory, trained human resource. Kuyumcukent is an example of a world-class facility. We are extremely advantageous in terms of geographical location. With only a few hours flight, we can reach European, Asian and African markets. THY is flying all over the world. We have no visa problems. We have a lot of advantages. If we take advantage of these advantages, we can make Turkey the world's jewelery center. "