#Legal_news Jewelry will be traded through e-commerce The P | Legal Info

#Legal_news

Jewelry will be traded through e-commerce

The President's Resolution № PP-4998, 22.02.2021 “On measures to create favorable conditions for the further development of the jewelry industry” was adopted.

According to the Resolution, by March 1, 2023, a procedure for selling precious metals to jewelry manufacturers will be introduced based on a direct agreement or with a deferred payment condition.

Starting from April 1, 2021:

it is allowed to apply the hallmark and personal mark of the manufacturer by mechanical (shock) or laser methods;

legal entities licensed to carry out refining activities are allowed to sell measured ingots of their production to individuals and legal entities;

it is allowed to sell jewelry made of precious metals and precious (semi-precious) stones on the domestic and foreign markets through e-commerce;

verification of the client, his representative, and beneficial owner is not required in the case of mutual settlements in cash if the total amount of the transaction does not exceed 600 times the amount of BRV.

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