Dubai is set to implement duty on jewelry at 5% from which will come in to effect from 1st Jan 2017. The duty imposed will be on all kinds of jewelry like gold, diamonds, studded, colored stones, platinum etc.
Dubai, known as ‘The City of Gold’ has had a long history with gold and jewelry, starting with its status as a major trading port in the 19th century. Dubai’s association with the yellow metal is legendary. Right from the time it was a pearl fishing town to the glitzy commercial hub that it has become today, the lure of its gold trade has grown gradually.