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New HS Codes for VAT Calculation on Jewelry Products Effective from January 2026

  • From January 1, 2026 to January 1, 2028, jewelry manufacturers will calculate VAT based on the positive difference between the sale price of jewelry/semi-finished products and the value of precious metals and stones they contain.
  • New preferential MXIK codes have been introduced for determining the value of precious metals and stones in jewelry.
  • The specified MXIK codes are: 07106001008000000, 07108001011000000, 07112001002000000, 07104001002000000.
  • Amounts using these MXIK codes will not be reflected as sales in VAT reports.
  • Only VAT-paying jewelry manufacturers can use these new MXIK codes.

Source: facebook.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.



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