VAT Reverse Charge on Precious Metals and Stones

Article 1 — Article (1) Definitions

The definitions stated in the aforementioned Federal Decree-Law No. (8) of 2017 shall apply to this Resolution; otherwise, the following words and phrases shall have the meanings assigned to each of them, unless the context otherwise requires: Goods: Precious metals, precious stones and jewellery made of any precious metal or precious stone or a combination thereof, provided that the value of the precious metal or precious stone is higher than the value of the other components. Precious Metals: Gold, silver, palladium and platinum. Precious Stones: Natural and synthetic diamonds, pearls, rubies, sapphires and emeralds.

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