Proposed Gemstone Legislation Risks Leaving Flawed System Intact

The proposed Gemstone Law, currently under discussion in the national legislature, would largely perpetuate many flaws in the governing framework created by the then-military-led government in 1995, according to Natural Resource Governance Institute (NRGI). In July 2016, the new NLD-led government decided to suspend issuing jade and gemstone licences until relevant laws could be reviewed […]

Mandalay trader petitions for mining halt

A Mandalay trader is circulating a petition calling for an immediate but temporary halt to jade mining and a revamp of export procedures, warning the Mandalay market could be headed for disaster if business continues as usual. The petition will shortly be submitted to a Regional and Union-level officials, with its main backer hoping it […]

Jewellers worry over tax hike on cut stones

Gem entrepreneurs will be required to pay a 10 per cent commercial tax on sales of finished stones, plus 15 per cent for uncut stones, even as other commercial taxes have been reduced under the 2015 Taxation Law, according to the Internal Revenue Department under the Ministry of Finance. Min Htut, director-general of the Internal […]