In Russia, before the New Year, they want to simplify the sale of jewelry

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Before the New Year holidays they want to simplify the sale of jewelry. They propose to leave the mandatory inventory of precious metals at least once a year, but to untie it from the date of January 1. This follows from the draft order of the Ministry of Finance.

“As for the timing of the inventory, in any case they must comply with the requirements of regulatory legal acts. Namely, conducting an inventory before drawing up annual financial statements. Liberalization of accounting and storage requirements is welcome,” they quoted “News” Assay Office.

Jewelry is a popular item for gifts for the New Year; their sales increase sharply during this period, noted the Committee of the Russian Chamber of Commerce and Industry on Precious Metals and Precious Stones. Preparing and conducting accounting as of January 1 requires stopping production, closing enterprises and stores during the holidays and New Year’s weekend, and this affects sales.


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