Post by fastwalker on Sept 28, 2004 21:52:56 GMT -5
:)FYI...Informational....
CANADA’S FEDERAL GOVERNMENT NOT LIKELY TO ADOPT TAX REFORMS
September 28, 2004
Key tax reforms recommended in Canada’s National Diamond Strategy are not likely to be adopted says Bob Paget, Director of Special Projects for Indian and Northern Affairs Canada. Despite strong industry support for eliminating the excise tax on jewelry and encouraging local diamond manufacturing through royalty incentives, neither measure is imminent, according to Paget.
“We don't give smaller royalties to a company that sells its gold to the Canadian Mint. It's not our policy to insist that company provide diamonds for cutting and polishing inside Canada. I can't see us changing royalties because of a policy of the government of the Northwest Territories,” explains Paget, adding that Ottawa was not consulted during the compilation of the report evne though nearly all the report's recommendations involve federal jurisdiction.
CANADA’S FEDERAL GOVERNMENT NOT LIKELY TO ADOPT TAX REFORMS
September 28, 2004
Key tax reforms recommended in Canada’s National Diamond Strategy are not likely to be adopted says Bob Paget, Director of Special Projects for Indian and Northern Affairs Canada. Despite strong industry support for eliminating the excise tax on jewelry and encouraging local diamond manufacturing through royalty incentives, neither measure is imminent, according to Paget.
“We don't give smaller royalties to a company that sells its gold to the Canadian Mint. It's not our policy to insist that company provide diamonds for cutting and polishing inside Canada. I can't see us changing royalties because of a policy of the government of the Northwest Territories,” explains Paget, adding that Ottawa was not consulted during the compilation of the report evne though nearly all the report's recommendations involve federal jurisdiction.
