HM Revenue & Customs Department of the United Kingdom is examining consignment based sales of diamonds

Belgian diamond dealers who send diamonds on consigments to the United Kingdom will have to apply for a VAT registration in that country, once they exceed the threshold of GBP 68.000,00 (+/- USD 110,000) per year.


On the final sales of diamonds - resulting from previously shipped consignments - in the United Kingdom is VAT due, at a rate of 20 per cent.