Obligatory utility of bodily marking on jewellery product of valuable metals and valuable stones in Russia, which has been set for March 2023, has been postponed for a yr and can start in March 2024, in accordance with Tough & Polished.

The marking of jewellery will probably be executed by “making use of a particular barcode to the steel a part of the ornament subsequent to the stamp.” Merchandise labeled as leftovers in addition to merchandise imported into the territory of Russia from states outdoors the Eurasian Financial Union, will probably be exempted. 

The choice to increase the deadline was “executed to assist the jewellery business within the transition from a simplified and patent taxation system to a standard system, in addition to to cut back the monetary prices of market contributors in valuable metals and valuable stones,” commented Deputy Finance Minister Alexei Moiseev.

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