TRADE FAIR REPORT – “VAT Free” Jewellery Arabia features Middle Eastern and European brands

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By David Brough

MANAMA – The Jewellery Arabia show, opened by HH Shaikh Ali bin Khalifa Al Khalifa, Deputy Prime Minister of the Kingdom of Bahrain on November 16, 2021, receives strong official support, underscoring its status as one of the Middle East’s leading industry events amid expectations that orders will be buoyant as in-person trading reboots.

The show, which runs until November 20, 2021, presents a wide assortment of high-end jewellery pieces, notably diamond jewellery, to the trade and luxury shoppers.

Jewellery Arabia show

Exhibitors include well-known names such as Boucheron, Heinz Mayer, Al Zain and Yessayan.

Shortly after the opening, Sheikh Ali toured the show, stopping to view jewellery at several booths and visiting the stand of the Bahrain Institute for Pearls and Gemstones (DANAT), where DANAT CEO, Mrs Noora Jamsheer, spoke with him about Bahraini pearling, such as pearl shucking, the practice of opening up an oyster to seek pearls.

DANAT CEO Mrs Noora Jamsheer discusses Bahraini pearling with Sheikh Ali

DANAT CEO Mrs Noora Jamsheer discusses Bahraini pearling with Sheikh Ali

Bahrain’s carefully protected sea oyster beds are the home of natural pearls sought by divers to feature in upscale jewellery pieces: the rarity of natural pearls ensures that they have a sizable premium over cultured pearls.

Danat

DANAT is working to revive Bahrain’s natural pearl fishing as part of a diversification of the national economy, with a strong focus on ocean conservation.

Jewellery Arabia is a magnet for retail and consumer buyers from the Middle East region and beyond, experiencing a very strong visitor turnout and order flow as buyers seek the latest jewellery collections.

Jewellery Arabia has been designated as “VAT Free” by the authorities for both local and international exhibitors.

The following guidelines apply:

● International exhibitors will not be required to account for VAT on sales made during the exhibition and will not be required to file VAT returns or other VAT related documentation to the NBR

● Local exhibitors should apply the zero VAT rate on all sales of jewellery made during the exhibition. Such exhibitors will be required to issue VAT invoices in the normal manner on sales of jewellery to both Bahraini residents and visitors from abroad, but the rate of VAT shown on such invoices should be zero.

The “VAT free” treatment will only apply to items of jewellery sold at the exhibition. It will not apply to other goods such as food and beverages, or any other form of goods which would not normally be regarded as jewellery.