Mali [Large-mine title holder] → United Arab Emirates (refine) → India (refine) → South Africa (refine) · Sale of refined gold and receipt of proceeds

Public law and official guidance, published as research. Not legal, tax or financial advice.

Ask the research

Ask in your own words. The answer is the research itself: its records, word for word, with every source and how sure each one is.

The route, leg by leg

Each step, tax and control as the research records it, with its legal basis and how sure the research is.

Mali (Doré bar - unstamped → Doré bar - stamped/exporter-sealed) ⟶ United Arab Emirates (Doré bar - stamped/exporter-sealed → Pre-refined 995 bar (e.g. 'Dubai 995')) ⟶ India (Pre-refined 995 bar (e.g. 'Dubai 995') → 999.9 kilobar) ⟶ South Africa (999.9 kilobar → LBMA Good Delivery 400oz bar)

Not researched: India → South Africa

Leg 1: Mali

Where the goods start

Doré bar - unstamped → Doré bar - stamped/exporter-sealed

1
Mine and process ore at the mine (crushing, leaching, electrowinning) and pour doré bars
Who
Large-mine operating company (grande mine)
Needs
Permis d'exploitation de grande mine
Form
Ore (in situ / run-of-mine) → Doré bar - unstamped
Primary law
The title is primary law. The process route is standard industry practice and was not sourced for Mali.
- Code minier 2023, art. 83
2
Weigh, sample and assay each doré bar in Mali; the Code requires analyses to be done in Mali unless written authorisation is given
Who
Large-mine operating company (grande mine)
Issues
Mine-site weighing, sampling and assay of doré (in Mali)
Form
Doré bar - unstamped → Doré bar - stamped/exporter-sealed
Primary law
Art. 24 is written for sample analyses generally; applying it to doré is an interpretation.
- Code minier 2023, art. 24
3
Refine in a state-owned refining unit in Mali, or in another unit in Mali under written authorisation (legal obligation). Where no such unit operates, doré is in practice exported to foreign refiners
Who
Large-mine operating company (grande mine)
Form
Doré bar - stamped/exporter-sealed → 999.9 kilobar
Primary law
The obligation is primary law. [unconfirmed] whether the Sénou refinery (press: 200 t/yr project) operated at the as-of date; in 2025 most declared exports went to South Africa (press), which suggests refining abroad. See ml.div-refining-abroad.
- Code minier 2023; Décret 2024-0396, Code art. 25; Décret art. 143
4
Hold an export intention (DNCC, timbre paid) and, where required, the prior authorisation to export gold (Règlement art. 20). Annex X exempts mining companies holding an exploitation and export licence from the authorisation request
Who
Large-mine operating company (grande mine)
Needs
Mine-site weighing, sampling and assay of doré (in Mali); Intention d'exportation (DNCC)
Issues
Autorisation préalable d'exportation d'or (Minister of Finance)
Primary law
[inferred] whether a Malian large-mine permit counts as an 'exploitation and export licence' under Annex X is not stated; Code art. 124 f guarantees large-mine holders free export of transformed substances. Décret 02-536 art. 19 does not apply to industrial gold (art. 1 limits it to artisanal production).
- Règlement 06/2024/CM/UEMOA; Arrêté 09-0788 (2009), Règlement art. 20 and Annex X; Arrêté art. 2, 15-17
5
Domicile the sale with an authorised intermediary bank (contract with the refiner, engagement de change)
Who
Large-mine operating company (grande mine)
Needs
Autorisation préalable d'exportation d'or (Minister of Finance)
Issues
Sale contract with the foreign buyer/refiner; Commercial invoice; Engagement de change (export exchange commitment, UEMOA Annex IX-1); Attestation d'exportation (UEMOA Annex IX-2)
Primary law
- Règlement 06/2024/CM/UEMOA; Instruction 03/07/2025/RFE, Règlement art. 10; Annex II art. 17, 19; Instruction art. 3, 5
6
Lodge the export customs declaration; the doré is inspected, sealed and released
Who
Large-mine operating company (grande mine)
Needs
Autorisation préalable d'exportation d'or (Minister of Finance); Mine-site weighing, sampling and assay of doré (in Mali); Engagement de change (export exchange commitment, UEMOA Annex IX-1); Commercial invoice; Attestation d'exportation (UEMOA Annex IX-2)
Issues
Export customs declaration (Mali Customs); Certificate of origin for gold exported from Mali; Packing list
Primary law
[not-read] no gold-specific customs procedure was found.
- Code des douanes 2022; Instruction 03/07/2025/RFE, Code art. 117, 128-129, 133; Instruction art. 6
7
Carry the doré by secure air freight to the foreign refiner
Who
Air carrier / secure logistics provider
Needs
Export customs declaration (Mali Customs)
Issues
Air waybill
Industry practice
The destination mix is from 2025 export statistics. The logistics are assumed.
8
Pay the taxe ad valorem on valued production (gold rate by London PM price band: 3% up to USD 1,000 an ounce rising to 7.5% above USD 2,000 up to 2,500, then +0.5 point per USD 400), the ISCP (5% of turnover excluding taxes on gold ingots, 3% for companies with a renegotiation memorandum) and the quarterly mining-fund contributions (0.75%, 1% rising to 2.5% after five years plus 10% of the TAV for five years, and 0.50% of turnover)
Who
Large-mine operating company (grande mine)
Issues
Receipt for the taxe ad valorem, ISCP and mining-fund contributions
Primary law
[unconfirmed] above USD 2,500 the table reads 'chaque augmentation de USD 400 voit la taxe ad valorem augmentée de 0,5%' with the rate column 'Taux à déterminer', so the rate at current prices depends on how the steps are counted.
- Code minier 2023; Décret 2024-0396; Décret 2025-0732, Code art. 95, 98, 99, 134; Décret 2024-0396 art. 194; Décret 2025-0732 art. 2 and annex

Taxes and fees

Taxe due par les exportateurs d'or et autres produits miniers non régis par le Code minier
2% of the export value (CGI art. 253-AJ) Export of artisanal and small-mine gold
Primary lawAmount not confirmed
- Code général des impôts (edition consolidated to LFR 2017), arts. 253-AG to 253-AK; LPF art. 227-T
Impôt spécial sur certains produits (ISCP) on gold ingots
5% for 'Lingots d'or' (NTS 7108.13.10.00) and other mining products; reduced by 2 percentage points (to 3%) for 10 years, not renewable, for mining companies that signed a memorandum with the State after renegotiating their conventions Gold ingots and other mining products
Primary lawAmount not confirmed
- CGI art. 240 (as replaced by Ord. 2025-015); Décret 2025-0732, Décret art. 1-2 and annex
Impôt spécial sur certains produits (ISCP) on gold ingots and mining products, rates under Décret 2022-0555 (superseded)
5% on gold ingots (Lingots d’or) Gold ingots (Lingots d’or) and marble, the mining products in the annex of Décret 2022-0555
Primary law
- CGI art. 240 (nouveau) and 240 A; Décret 2022-0555/PT-RM (annex), Décret n°2022-0555/PT-RM du 20 septembre 2022 (JO n°31 du 30 sept. 2022) art. 1er: rates as in the annex
  “Les taux de l'Impôt spécial sur certains produits (ISCP) applicable aux produits visés à l'article 240 (nouveau) et à l'article 240 A du Code général des Impôts sont fixés tels qu'ils figurent en annexe au présent décret.”
- CGI art. 240 (nouveau) and 240 A; Décret 2022-0555/PT-RM (annex), Annexe, Produits miniers, NTS 71.08 13 10 00 (the record parses the annex into the section of art. 3)
  “71.08 13 10 00 Lingots d'or 5%”
- CGI art. 240 (nouveau) and 240 A; Décret 2022-0555/PT-RM (annex), Décret n°2025-0732/PT-RM art. 3: abrogation of Décret 2022-0555
  “Le présent décret abroge toutes les dispositions du Décret n°2022-0555/PT-RM du 20 septembre 2022 fixant les taux en matière d'Impôt spécial sur certains Produits (ISCP).”
- CGI art. 240 (nouveau) and 240 A; Décret 2022-0555/PT-RM (annex), Décret 2025-0732, signature date
  “Bamako, le 29 octobre 2025”
- CGI art. 240 (nouveau) and 240 A; Décret 2022-0555/PT-RM (annex), Code minier 2023 art. 134 (tax base)
  “La base taxable de l'ISCP est le chiffre d'affaires hors taxes.”
- CGI art. 240 (nouveau) and 240 A; Décret 2022-0555/PT-RM (annex), Code minier 2023 art. 134 (ISCP on mining products)
  “Les produits miniers sont soumis à un impôt spécial dit " Impôt spécial sur certains Produits " (ISCP)”
Redevance de surproduction (overproduction royalty)
20% if sales exceed the feasibility-study production by 30%-40%; 30% for 40%-50%; 40% above 50%
Primary lawAmount not confirmed
- Décret 2024-0396, art. 200
Taxe ad valorem (TAV) on mining production
Gold, by London PM spot price per ounce on the valuation day: ≤USD 1,000: 3%; >1,000-1,300: 3.5%; >1,300-1,600: 4%; >1,600-2,000: 6%; >2,000-2,500: 7.5%; above USD 2,500 'chaque augmentation de USD 400 voit la taxe ad valorem augmentée de 0,5%' (rate column: 'Taux à déterminer') Gold and other mining products; the State may take it in kind as doré with its certificate of origin (Décret art. 194)
Primary lawAmount not confirmed
- Code minier 2023; Décret 2024-0396, Code art. 134; Décret art. 194
Droit de timbre on export intentions for gold and cotton (superseded)
600 FCFA per 50,000 FCFA or fraction up to 500,000 FCFA; 3,000 FCFA per 500,000 FCFA or fraction above Export intentions for gold and cotton
Primary lawAmount not confirmed
- CGI art. 425 (Ordonnance 2015-19), art. 425
Contribution to the geological and mining research fund
0.50% of quarterly turnover
Primary lawAmount not confirmed
- Code minier 2023, art. 94, 99
Contribution to the mining infrastructure fund
1% of quarterly turnover plus 10% of the TAV for the first five years from first production; the 1% rises to 2.5% after the first five years of production Mining turnover
Primary lawAmount not confirmed
- Code minier 2023, art. 94, 98
Contribution to the local development mining fund
0.75% of turnover for the quarter Mining turnover
Primary lawAmount not confirmed
- Code minier 2023, art. 94, 95
Droit de timbre on export intentions for mining products
1.2% on the tranche up to 500,000 FCFA; 0.6% on the tranche above Export intentions for mining products and cotton
Primary lawAmount not confirmed
- CGI art. 425 as replaced by Ord. 2025-015; Décret 2024-0396, Ord. 2025-015 art. 1; Décret art. 199; Code art. 138 n

Controls

Artisanal exploitation permits go only to natural persons or groups of natural persons of Malian nationality or nationals of countries granting reciprocity to Malians (Code art. 66). Collectors must also be Malian or reciprocity nationals and hold a carte professionnelle (Décret 02-536 art. 5).
Primary law
- Code minier 2023; Décret 02-536, Code art. 66; Décret art. 5
Resident travellers to non-UEMOA states: foreign-banknote allocation at most 3,500,000 FCFA per trip (Instr. 06/07/2025 art. 2); declare foreign-currency cash above 3,000,000 FCFA (art. 4); may carry CFA notes up to 500,000 FCFA (art. 6); surrender foreign notes above 500,000 FCFA within 8 working d…
3,000,000 FCFA (resident declaration); 500,000 FCFA (non-resident declaration; CFA notes carried out)
Primary lawAmount not confirmed
- Règlement 06/2024/CM/UEMOA; Instruction 06/07/2025/RFE; Ord. 2024-011, Annex II art. 45-50, 53; Instruction art. 2-7; Ord. art. 70-71
For customs purposes, goods whose export needs an authorisation or special formalities are 'prohibées' (Code des douanes art. 31); the prohibition is lifted by the authorisation, which is personal and may not be transferred. A declaration may not be accepted without the documents required for forei…
Primary law
- Code des douanes 2022; Code minier 2023, Douanes art. 31, 133, 432, 445; Code minier art. 212
In large mines the State takes a free participation of at least 10% (Code art. 78), non-dilutable (Décret art. 26 b; Code art. 82), with a priority dividend of 10% of net profit (art. 79); it has a 12-month option to buy up to 20% more in cash (art. 80); and the company must cede 5% of its shares t…
Primary law
- Code minier 2023; Décret 2024-0396; Ord. 2026-004, Code art. 78-80, 82; Décret art. 26, 108; Ord. art. 2, 5
Dealers in precious metals and stones are DNFBPs ('les personnes se livrant habituellement au commerce ... de métaux précieux', Ord. 2024-011 art. 2 point 26 c) and need authorisation or registration by the competent authority (art. 48). They apply customer due diligence to cash operations at or a…
CTR 15,000,000 FCFA; special examination 50,000,000 / 10,000,000 FCFA; occasional customers above 9,000,000 FCFA
Primary lawAmount not confirmed
- Ord. 2024-011; UMOA Décision 021/2023, Ord. art. 2 pt 26 c, 48, 54, 60, 72; Décision art. 4, 5, 8
Gold from artisanal exploitation and from small mines is sold exclusively to the state comptoir or, failing that, to comptoirs designated by interministerial arrêté of the Ministers of Commerce, Mines and Finance.
Primary law
- Décret 2024-0396, art. 86 al. 2, art. 89 last al.
Artisanal gold areas in central and northern Mali are affected by armed conflict. Armed groups have fought over gold sites (Gourma, 2021) and finance themselves from the gold trade. Buyers and refiners applying OECD DDG / LBMA RGG should treat Malian artisanal gold as coming from a conflict-affected…
Secondary
- OECD Due Diligence Guidance (gold supplement)
Export of fine carbon used in cyanidation, for recovering the gold it contains, is prohibited; it must be treated in certified installations in Mali.
Primary law
- Décret 2024-0396, art. 127
Exploitation-title holders must refine or transform their mining products in state-owned units installed in Mali; failing state units, an interministerial arrêté of the Ministers of Mines and Finance may authorise other refining units installed in Mali (Code art. 25). Small- and large-mine holders…
Primary law
- Code minier 2023; Décret 2024-0396, Code art. 25; Décret art. 143
Every import or export of gold needs the prior authorisation of the Minister of Finance or another competent national authority, requested by letter (Règlement art. 20; Annex X). Exempt: Treasury and BCEAO operations; articles containing a small quantity of gold (plated, gold-thread); travellers wi…
Travellers: gold objects up to 500 g; artisanal samples: up to 100 g of gold
Primary lawAmount not confirmed
- Règlement 06/2024/CM/UEMOA; Décret 02-536, Règlement art. 20 and Annex X; Décret art. 19-21
OMASP is the only body allowed to export precious substances from artisanal mining (orpaillage) and small mines. Private comptoirs lose their export role for this gold. Industrial large-mine output is outside the monopoly.
Primary law
- Ord. 2026-013, art. 3
Exports above 20,000,000 FCFA are domiciled with an authorised intermediary (Instr. 03/07/2025 art. 3; Règlement art. 10). Proceeds are collected and repatriated in full within one month of the payment due date, which may be at most 120 days after shipment; the domiciling bank repatriates at least …
Domiciliation above 20,000,000 FCFA; temporary gold exports above 500 g
Primary lawAmount not confirmed
- Règlement 06/2024/CM/UEMOA; Instruction 03/07/2025/RFE, Règlement art. 10-11; Annex II art. 15, 17, 27-28; Instruction art. 3, 7
The competent authority draws up and circulates the national list of persons and entities linked to terrorist or proliferation financing (Ord. 2024-011 art. 124); the Minister of Finance lists persons and renews administrative asset freezes by arrêté (e.g. arrêtés 2026-0840 to 0842 and 2026-1194…
Primary law
- Ord. 2024-011; MEF arrêtés 2026, Ord. art. 124
Exported gold must have been chemically and mechanically treated and presented as a titled ingot (lingot titré). An attestation de titrage is required before any export intention is cleared. Exported jewellery must carry the state hallmark (marque de garantie).
Primary law
- Décret 02-536, art. 14, 15, 17, 18

Leg 2: United Arab Emirates

On the way

Doré bar - stamped/exporter-sealed → Pre-refined 995 bar (e.g. 'Dubai 995')

9
Pre-contract KYC on the Nigerian exporter: corporate docs, UBO, MBC/export-permit evidence, mine-of-origin declaration
Who
DMCC importer / trader
Needs
Bank-to-bank reference confirmation (not a public letter) on the Nigerian exporter
Issues
Importer's KYC/due-diligence pack on the Nigerian exporter; Evidence pack from the Nigerian exporter: export licence/permit, mine location, legal existence of the ASM operation
Official guidance
[conflict] For an ordinary DMCC trader the binding CDD duties are those of CR 134/2025 (Arts. 5-14); DMCC RBD-GPM binds only its Accredited Members (see ae.div-dmcc-role). [inferred] "Highest-scrutiny category" for ASM is the model's reading of Rule 1.6, not a phrase in the Rules.
- DMCC RBD-GPM Rules v2/2020; Cabinet Resolution 134/2025, DMCC Rules 1.4-1.8 (KYC; Rule 1.6 specific requirements for ASM supply), Rules 2.4-2.8 (red flags); CR 134 Art. 25(1) (records at least 5 years)
10
File the Dubai Customs declaration on Mirsal 2 with invoice, packing list, certificate of origin and air waybill (for a free-zone consignee the Customer Guide's 'FZ Transit In' type appears to apply, not import to local); disclose the precious metals crossing the border
Who
DMCC importer / trader
Needs
Air waybill; Certificate of origin; Origin country's export authorisation for the gold (permit, licence or clearance issued by the mining or trade authority); Commercial invoice; Packing list
Issues
Dubai Customs declaration filed online (for goods entering a free zone: "FZ Transit In"); Disclosure of precious metals crossing the UAE border (cargo included)
Official guidance
No UAE import permit for gold: Dubai Customs lists DMCC as restricting authority only for "Pearls, Diamonds, Rough Diamonds etc." (Customer Guide App. I). FZ Transit In (s.15.12.2): "foreign goods originated from any country may be brought into the free zones without being subject to customs duties or taxes. The owner of the goods in the Documents shall be a Free Zone Licensee"; documents MAWB/HAWB, commercial invoice, certificate of origin, packing list, delivery order. Mainland duty: the GCC exempted list's gold line is printed "71060000" (silver's heading) [summary][blocked]. Cross-border disclosure: see ae.doc-pm-disclosure-ae. [unconfirmed] Neither Dubai Customs guide names the declaration type for gold into a DMCC company or the DMCC Vault. [conflict] Supporting documents are due within 14 days (Customer Guide s.15.7) or 30 days (Service Guide v9 App. A) - see ae.div-customs-doc-deadline. KPMG (secondary): periodic "Goods Consumption within FZ" declaration under Dubai Customs Notice 17/2020.
- Dubai Customs Customer Guide v3.03; Dubai Customs Service Guide v9; Federal Decree-Law 10/2025, Customer Guide s.15.12.2 (FZ Transit In), App. J (DMCC declarations at the Customer Service Center at DMCC); FDL 10/2025 Art. 10 (cross-border disclosure)
11
Import VAT: registered importer accounts for VAT on its own return (reverse charge); investment-grade gold is zero-rated, doré is not
Who
DMCC importer / trader
Issues
Import VAT accounted on the importer's own VAT return (registered importer)
Primary law
Investment precious metals = gold, silver or platinum of 99% purity or more, in a form tradeable in global bullion markets (ER Art. 36(2), not amended in the consolidation to CD 100/2025); their supply or import is zero-rated (Art. 45(8)). [inferred] Doré below 99% does not qualify. [unconfirmed] DMCC's absence from the Designated Zones was checked only against the 2017 list (secondary copy). [not-read] FDL 16/2025 amendments (from 1 Jan 2026) not held.
- Federal Decree-Law 8/2017 on VAT; Executive Regulation (Cabinet Decision 52/2017, as amended; consolidated to CD 100/2025), Law Art. 45(8), 48(1), 49; ER Art. 36(2), 48(1), 48(5), 50(1)
12
If the importer sells the doré to the refiner (rather than toll-refining it): refiner gives two written statements before supply; importer issues a tax invoice without VAT (reverse charge)
Who
DMCC importer / trader
Issues
Refiner's two written statements: VAT-registered, and buying to resell or use in production; Tax invoice without VAT for the importer-to-refiner sale
Primary law
[inferred] Conditional: the model reads the reverse charge as not applying where the refiner only toll-refines metal the importer keeps title to; the sources read do not address toll refining.
- Cabinet Decision 127/2024; VAT Executive Regulation, CD 127 Art. 2(1), 2(3) (two written declarations before supply; supplier keeps them and verifies registration), 2(4) (no declarations: no reverse charge); ER Art. 59(1)(l)
13
Refiner performs its own CDD on the supplier; third-party audit, assurance or certification reports are supporting evidence only, and the relationship must stop if CDD cannot be completed
Who
Dubai refiner (UAEGD-accredited)
Needs
Importer's KYC/due-diligence pack on the Nigerian exporter; Evidence pack from the Nigerian exporter: export licence/permit, mine location, legal existence of the ASM operation; Air waybill
Issues
Refiner KYC and custody file: supplier identity/constitution/licence/UBOs, PEP approval, invoices, declared weight and assay, unique input/output references, transport documents, arrival and assay-final dates, payment details (kept 5 years); Red-flag assessment by location of origin and by supplier
Primary law
- UAE MoE Due Diligence Regulations v1 (2022); Ministerial Decree 68/2024; EBC Rules for RBDG v1/2021, Regs s.1.3.1-1.3.7, 1.3.6 (cease if CDD cannot be done), 1.3.10 (records 5 years), 1.5 (own KYC; third-party audits only supporting evidence), 2.1-2.2; Decree Art. 1(A)-(B); EBC Rules 1.6-1.14
14
Weigh-in, seal-check, sample, fire-assay the doré
Who
Dubai refiner (UAEGD-accredited)
Needs
Refining agreement, Dubai refiner; Refiner KYC and custody file: supplier identity/constitution/licence/UBOs, PEP approval, invoices, declared weight and assay, unique input/output references, transport documents, arrival and assay-final dates, payment details (kept 5 years); Pre-shipment notification to refiner/buyer
Issues
Refiner outturn/assay report
Industry practice
Specific weighing/sampling/fire-assay methodology not published in any UAE-specific source found
15
Melt, refine and cast to 995.0 or 999.9 bars, marked with serial number, the refiner's hallmark/brand stamp, fineness to four significant figures and weight (year optional, otherwise on the manufacturer's certificate)
Who
Dubai refiner (UAEGD-accredited)
Needs
Refiner outturn/assay report
Issues
Manufacturer certificate accompanying UAEGD bars (states year of manufacture if not stamped); Output record: unique reference, refiner name and stamp, year for each bar
Form
Doré bar - stamped/exporter-sealed → Pre-refined 995 bar (e.g. 'Dubai 995')
Official guidance
[unconfirmed] Refining method (Miller chlorination) is not in the UAEGD Rules or RBDG Rules.
- EBC UAE Good Delivery Accreditation Rules v1/2021, s.7.1 (bar marking)
16
Refiner appoints an independent third-party auditor and submits the due-diligence report to the MoE (Decree 68/2024 Art. 1(B)); the Reviewer sends its reports to the MoE within 90 calendar days of the end of the review period (DD Regulations Annex I s.12.1). UAEGD (EBC) and DMCC Accredited Members also publish an annual report (EBC Rules / DMCC RBD-GPM Rule 5.1).
Who
Dubai refiner (UAEGD-accredited)
Issues
RBD-GPM annual disclosure; MoET responsible-sourcing audit report
Primary law
The EBC and DMCC reporting duties are rules of those bodies (official-guidance) and bind their Accredited Members only. [conflict] DMCC accreditation status after 2021: see ae.div-dmcc-role.
- Ministerial Decree 68/2024; MoE Due Diligence Regulations v1; EBC Rules for RBDG v1/2021; DMCC RBD-GPM v2/2020, Decree Art. 1(B); Regulations Step 5, Annex I s.12.1; EBC Rules Rule 5.1; DMCC Rules Art. 3.1, Rule 5.1
17
Deposit refined bars into DMCC Vault (operated by Brink's)
Who
DMCC Vault (operated by Brink's)
Needs
Manufacturer certificate accompanying UAEGD bars (states year of manufacture if not stamped)
Issues
DMCC Vault deposit/withdrawal receipt; DMCC Tradeflow warrant (optional; used for pledging and title transfer)
Official guidance
DMCC: the Vault is "Owned by DMCC and operated by Brink's Global Services" and "DMCC can assist with all customs processes". [not-read] Deposit/withdrawal documents and any bonded status of the Vault are not published; the receipt document is inferred.
18
Obtain a Certificate of Origin from Dubai Chambers: a non-preferential certificate for UAE-origin goods (goods produced in the UAE by a licensed exporter; copy of the industrial licence and the factory's invoice) or a certificate for foreign goods re-exported
Who
DMCC importer / trader
Needs
Refiner outturn/assay report
Issues
UAE Certificate of Origin / re-export documentation (Dubai Chambers)
Primary law
Unresolved: whether refining doré into bars confers UAE origin - both can sit in HS 7108.12 and no gold-specific rule was found; CR 43/2022 Art. 4 also allows "specific manufacturing operations". India's Noida SEZ SOP treats gold bars sourced from the UAE as not UAE-originating (see ae-in). Fee AED 100, two hours (Dubai Chambers service page; the Resolution sets no amount). [summary][blocked] FL 11/2019 and CR 43/2022 read through WebFetch only (downloads Cloudflare-challenged).
- Federal Law 11/2019; Cabinet Resolution 43/2022; Dubai Chambers Resolution 7/2024, FL 11/2019 Art. 4 (minimal operations do not confer origin), Art. 6 (issue of certificates; the Chamber issues certificates for re-exported foreign commodities); CR 43/2022 Art. 4 (last major operation, incl. "a change in the customs item or ... specific manufacturing operations"); DC Res. 7/2024 Art. 2 (types), Art. 3(a) (conditions), Art. 3(b) (UAE-origin certificate only for goods produced in the UAE by an exporter licensed by the Competent Entity), Art. 4 (electronic application), Art. 6 (valid six months), Art. 7 (register kept 3 years)
19
File Dubai Customs export/re-export declaration; VAT zero-rated on export
Who
DMCC importer / trader
Needs
UAE Certificate of Origin / re-export documentation (Dubai Chambers)
Issues
Dubai Customs export/re-export declaration
Primary law
- Federal Decree-Law 8/2017 on VAT; VAT Executive Regulation; Cabinet Decision 127/2024; Dubai Customs Customer Guide v3.03, DL 8/2017 Art. 45(1) (exports zero-rated); ER Art. 30 (export within 90 days, with customs declaration and commercial evidence); CD 127/2024 Art. 2(2) (no reverse charge on zero-rated supplies); Customer Guide s.15.12.3 (FZ Transit Out; penalty 10% of value without proof of export), s.16 (proof of export by air)
20
Book air cargo as valuable/secure freight (specialist carrier), security clearance, sealed/inspected shipment at DXB/DWC
Who
Secure logistics provider (UAE/air legs)
Needs
Dubai Customs export/re-export declaration
Issues
Air waybill, Dubai -> Zurich/Geneva
Industry practice
CAR VII has nothing gold-specific; booking as valuable/secure freight with a specialist carrier is practice. [inferred] Road leg to the airport in Dubai needs a SIRA Money and Valuables Transport licence.
- GCAA CAR Part VII Ed. 05; SIRA Resolution 1/2018, CAR VII 4.6.1 (security controls on cargo), 4.6.6 (operators accept cargo only with security controls confirmed), 4.6.7 (security status accompanies cargo); SIRA Res. Art. 3(a)(6)

Taxes and fees

Customs duty on gold imports
0% for goods entering a free zone (FZ Transit In); mainland imports of gold: 0% under the GCC exempted-commodities list (read via WebFetch only) Unwrought and semi-manufactured gold
Official guidanceAmount not confirmed
- Dubai Customs Customer Guide v3.03; GCC common customs law; UAE list of exempted commodities, Customer Guide s.9 (duty suspended for goods admitted into free zones), s.15.12.2
Domestic reverse charge on precious metals and precious stones between registered businesses
Recipient accounts for VAT Supplies of gold, silver, platinum, palladium, precious stones and jewellery made of them, for resale or production, between VAT-registered persons, with the buyer's written declaration (CD 127/2024, replacing CD 25/2018)
Primary law
- Cabinet Decision 127/2024; FTA VATP043, Art. 1 (Goods: precious metals - gold, silver, palladium, platinum - precious stones and jewellery mostly of them), Art. 2(1)-(4), Art. 4 (repeals CD 25/2018)
  “Precious Metals, Precious Stones and jewelry made of any Precious Metals or Precious Stones”
Special reverse charge on gold and diamonds between registrants (Cabinet Decision 25/2018)
Registered recipient accounts for VAT Gold and products mostly of gold not qualifying for zero-rating, and diamonds, supplied between registrants; exports of gold items and investment precious metals outside its scope (VATP029)
Official guidance
- Cabinet Decision No. 25 of 2018
Import VAT
5% standard; 0% for investment precious metals (99%+ purity, tradeable form) Doré is not investment gold, so it is standard-rated; refined bars of 99%+ are zero-rated
Primary lawAmount not confirmed
- Federal Decree-Law 8/2017 on VAT; Executive Regulation, Art. 3 (5%), 45(8), 48(1), 49; Exec. Reg. Art. 36(2), 48, 50(1)
  “a standard rate of 5% Tax shall be imposed on any supply or Import”

Controls

Precious metals crossing the UAE border must be disclosed; declarations are also required for precious metals over AED 60,000 crossing through cargo, mail or shipments, cargo being declared through the official customs systems.
AED 60,000
Primary lawAmount not confirmed
- Federal Decree-Law 10/2025; CBUAE Regulation on the Declaration of Currencies, BNIs, and Precious Metals and Stones (OG 703, 31 May 2021), FDL 10/2025 Art. 10 (duty to disclose, per the disclosure system issued by the ICP with the Central Bank), Art. 41(3) (regulations under FDL 20/2018 remain effective insofar as not conflicting), Art. 34 (penalty)
  “Any person entering into or departing from the State shall be under the obligation to make a disclosure whenever they carry currencies, bearer negotiable instruments, precious metals, or valuable stones, in accordance with the disclosure system issued by the Federal Authority for Identity, Citizenship, Customs and Port Security, in coordination with the Central Bank”
Dealers in precious metals and stones are DNFBPs for any single cash transaction, or linked transactions, of AED 55,000 or more (CR 134/2025 Art. 3 item 3), and keep records for at least 5 years (Art. 25). The DPMSR report, including for dealings with companies of AED 55,000 or more paid in cash or …
AED 55,000
Primary law
- Cabinet Resolution 134/2025; MoET Supplemental Guidance for DPMS 2026, CR 134 Art. 3(3), Art. 25(1); Guidance s.1.4.1
  “when carrying out any single cash transaction or several transactions that appear to be linked and whose value equals or exceeds fifty-five thousand dirhams (AED 55,000)”
Supply-chain entities and precious-metals dealers must have due-diligence management systems, identify and assess supply-chain risks and adopt a risk-management strategy (Decree Art. 1(A)); refiners must also appoint an independent third-party auditor and submit a due-diligence report (Art. 1(B)), u…
Primary law
- Ministerial Decree 68/2024; MoE Due Diligence Regulations v1 (2022), Decree Art. 1(A), 1(B), Art. 3 (penalties under the AML law)

Leg 3: India

On the way

Pre-refined 995 bar (e.g. 'Dubai 995') → 999.9 kilobar

21
Declare jewellery beyond the special allowance (40 g female / 20 g other passengers, residents or tourists of Indian origin abroad more than one year) and any gold other than ornaments electronically in CBD-I before the green channel, and pay duty (eligible passengers may import up to 1 kg of gold at the concessional rate of 45/2025 S. No. 194, duty in convertible foreign currency)
Who
International passenger
Issues
Baggage declaration
Primary law
- Baggage Rules 2026 r.6 and Annexure-I; Customs Baggage (Declaration and Processing) Regulations 2026 reg. 3; 45/2025 S. No. 194, condition 23, r.6; reg. 3
22
Import dore as actual user under 45/2025 S. No. 192 (conditions 3 and 22: direct shipment from the producing country, bars of 5 kg or more, mining-company packing list and assay certificate, refining to 99.5% or more); file Bill of Entry; pay BCD 10% from 13 May 2026 (5% before) plus AIDC, and IGST 3%
Who
Domestic gold refinery (dore importer under actual-user condition)
Needs
Origin country's export authorisation for the gold (permit, licence or clearance issued by the mining or trade authority); Export customs declaration accepted by the dispatching country's customs; Assay certificate (fineness and fine weight); Packing list; Air waybill
Issues
Bill of Entry for gold dore (actual-user); Duty and IGST payment on dore
Primary law
[unconfirmed] AIDC serial for dore not identified (see in.tax-dore-2026). The origin-country documents (export authorisation, export declaration) are what the exporting country issues; Indian law read here asks for the mining-company packing list and assay certificate.
- 45/2025-Customs S. No. 192, conditions 3 and 22, as amended by 15/2026; IGCR Rules 2022, TABLE I S. No. 192; condition 22
23
Refine dore to 995/999.9 bars and issue outturn assay
Who
Domestic gold refinery (dore importer under actual-user condition)
Needs
Bill of Entry for gold dore (actual-user)
Issues
Refinery outturn assay; List of refined bars produced
Form
Doré bar - stamped/exporter-sealed → 999.9 kilobar
Unverified
No Indian legal text prescribes the refinery process or outturn documents; industry-standard step. Condition 22(d) of 45/2025 requires refining into bars of 99.5% or more.
24
Sell refined bars to jewellers/dealers with GST invoice at 3%
Who
Domestic gold refinery (dore importer under actual-user condition)
Issues
GST invoice on sale of refined bars
Primary law
IGST rate (inter-State) 3% read; CGST/SGST rate notifications for intra-State sales not read.
25
Issue Advance Authorisation for gold (max 100 kg); first-time applicants get a physical facility inspection; further gold AAs only after 50% of the export obligation of earlier AAs is met
Who
DGFT (licensing authority)
Issues
Advance Authorisation (gold); Facility inspection report
Secondary
[transcription] PN 11/2026-27 read only as reproduced by TaxGuru (DGFT blocked). The earlier note "PN amends FTP paras 1.03 and 2.04" was not seen in any text read and was removed.
- DGFT Public Notice 11/2026-27 (notes under SIONs M-1 to M-8); FTP 2023 para 4.36, notes under SION M-1 to M-8
26
Import gold of fineness 0.995 or more duty-free (IGST payable) against the Advance Authorisation with actual-user condition, directly, from a nominated agency (HBP 4.84(c)), or through IIBX as a QJ notified on the AA route (only the ITC(HS) codes in the AA and only for its exports), and clear it on a Bill of Entry
Who
Jewellery manufacturer-exporter (Advance Authorisation holder, SEZ/EOU unit)
Needs
Advance Authorisation (gold); Refiner's certificate for the bars it produced (serials, fineness, weights, year)
Issues
Bill of Entry for gold imported against AA
Primary law
The customs exemption notification for AA imports was not read; FTP/HBP held as issued 2023.
- FTP 2023 para 4.36(a); HBP 4.84; IFSCA consolidated circular cls. 3(e), 18A-18B, FTP 4.36(a); IFSCA cl. 18B
27
Manufacture and export jewellery on a Shipping Bill against the export obligation
Who
Jewellery manufacturer-exporter (Advance Authorisation holder, SEZ/EOU unit)
Needs
Bill of Entry for gold imported against AA
Issues
Shipping Bill for jewellery export
Official guidance
Shipping Bill procedure under the Customs Act not read (Act not held).
- HBP 2023 para 4.84; FTP 2023 paras 4.36-4.37, HBP 4.84(b)
28
File fortnightly CA-certified performance reports to the Regional Authority (which reports monthly to DGFT HQ)
Who
Jewellery manufacturer-exporter (Advance Authorisation holder, SEZ/EOU unit)
Issues
Fortnightly AA performance report (CA-certified)
Secondary

Taxes and fees

Duty-free special allowance for jewellery (Baggage Rules 2026 r.6)
Duty-free jewellery up to 40 g (female passenger) or 20 g (other passengers) Residents or tourists of Indian origin residing abroad for more than one year, in bona fide baggage; gold or silver in any form other than ornaments is excluded from the general free allowance (Annexure-I item 5)
Primary lawAmount not confirmed
- Baggage Rules 2026, r.6; r.5 and Annexure-I item 5
India-UAE CEPA tariff rate quota for gold (22/2022-Customs TABLE III S. No. 12)
In-quota BCD 10% + AIDC 4% (14%) from 13 May 2026 (18/2026); 4% + 1% (5%) from 24 Jul 2024 (31/2024); 6.6% + 2.5% as notified in 2022 Gold of 71081100, 71081210, 71081290, 71081310, 71081390 (all goods) of UAE origin within the TRQ quantity: 200 tonnes from 1 Apr 2026 (09/2026); 180 tonnes FY 2025-26 (21/2025); 120 tonnes "other than Gold Dore Bar" in 2022
Primary lawAmount not confirmed
- Notification 22/2022-Customs TABLE III S. No. 12, conditions 1 and 2, as substituted/amended by 31/2024, 21/2025, 09/2026 and 18/2026
BCD and AIDC on other chapter 71 goods from 13 May 2026 (7107, 7109, 7110, 7111, 7112, 7118; findings; spent catalyst)
BCD 10% (45/2025 S. No. 202 as substituted and S. No. 203 findings, by 15/2026); AIDC: findings of gold or silver 5%, platinum findings 5.4% (15F), 7107 and 7109 5%, 7111 5.4%, 7118 5%, 7112 other than spent catalyst 5% (16/2026); spent catalyst or ash BCD 10% (S. No. 200A, to 31 Mar 2027), AIDC 4.35% (15E) Headings 7107, 7109, 7110, 7111, 7112, 7118
Primary lawAmount not confirmed
Customs duty on gold dore
5.35% combined (BCD 5% + AIDC 0.35%) Gold dore bars with gold content not over 95% imported by actual users for refining (45/2025 S. No. 192, conditions 3 and 22)
Primary lawAmount not confirmed
- 30/2024 (BCD); 32/2024 (AIDC); from 1 Nov 2025 45/2025 S. No. 192
Customs duty on gold dore from 13 May 2026: BCD 10% + AIDC
BCD 10% + AIDC 4.35% (11/2021 Sl. No. 15B, gold dore bar) = 14.35% Gold dore bar with gold content not over 95% (45/2025 S. No. 192), subject to conditions 3 (IGCR Rules 2022) and 22 (see in.cr-refinery-au)
Primary lawAmount not confirmed
- 45/2025-Customs S. No. 192 as amended by 15/2026; 11/2021 Sl. No. 15B (inserted by 03/2023, rate 4.35% set by 16/2026)
Customs duty on gold bars (BCD + AIDC), July 2022 - July 2024
15% (dore 14.35%) HS 7108 bars; dore
Official guidanceAmount not confirmed
Customs duty on gold bars: BCD 5% + AIDC 1% (24 Jul 2024 - 12 May 2026)
6% combined (BCD 5%, AIDC 1%, SWS exempt) Gold bars (HS 7108)
Primary lawAmount not confirmed
- Notification 30/2024-Customs (BCD, amending 50/2017; carried at 5% into 45/2025 S. No. 196 from 1 Nov 2025); 32/2024-Customs (AIDC Sl. No. 15D 1%)
Customs duty on gold bars from 13 May 2026: BCD 10% + AIDC 5% (SWS exempt)
15% combined (BCD 10%, AIDC 5%) All goods of heading 7108 other than dore (45/2025 TABLE I S. No. 196); silver 7106 likewise (S. No. 197)
Primary lawAmount not confirmed
- 45/2025-Customs S. No. 196 as amended by 15/2026 (BCD "5%" -> "10%"); 11/2021-Customs Sl. No. 15D as amended by 16/2026 (AIDC "5%"); 11/2018-Customs Sl. No. 1 (SWS exemption includes 7108)
IGST on gold (Schedule IV, 3%)
3% Heading 7108 gold (Schedule IV S. No. 5) and 7113 jewellery (S. No. 10), among other chapter 71 goods
Primary lawAmount not confirmed
- Notification 9/2025-Integrated Tax (Rate), para 1(iv) and Schedule IV, Schedule IV S. Nos. 5 and 10
IGST exemption on gold imported by listed banks and agencies
IGST nil Gold or silver imported by the banks in List 13, gold by the banks in List 14 (incl. SBER Bank from 25 Jun 2025, domestic consumption only), gold/silver/platinum by the entities in List 15 (HHEC, MSTC, Diamond India) of 45/2025
Primary law
- 45/2025-Customs TABLE I S. No. 198, column (5); Lists 13-15; 06/2026
Concessional duty on gold bars/coins brought by an eligible passenger
BCD 10% from 13 May 2026 (5% before); AIDC 4.35% (11/2021 Sl. No. 15C as substituted by 44/2025 and amended by 16/2026) Gold bars (non-tola) with engraved serial number and metric weight, gold coins of 99.5% or more, and other gold except studded ornaments, up to 1 kg per eligible passenger (Indian-origin passenger or passport holder after six months abroad), duty paid in convertible foreign currency (condition 23)
Primary lawAmount not confirmed
- 45/2025-Customs S. No. 194 and condition 23, as amended by 15/2026; 11/2021 Sl. No. 15C (44/2025, 16/2026)
BIS hallmarking fee
Rs 45 per gold article, minimum Rs 200 per consignment, payable by the jeweller to the AHC; BIS levies Rs 4.50 per article (minimum Rs 20) from the AHC; applicable taxes extra
Primary lawAmount not confirmed
- BIS (Hallmarking) Regulations 2018, Schedule IV as substituted by the Amendment Regulations 2022, Schedule IV, paras 1(a)-(b)

Controls

No person may receive Rs 200000 or more in cash (in aggregate from a person in a day, in a single transaction, or for transactions relating to one event or occasion from a person); only account payee cheque or draft, ECS through a bank account or prescribed electronic modes. Penalty equal to the sum…
Rs 200000
Primary lawAmount not confirmed
- Income-tax Act, 2025, ss.186, 451
Gold Advance Authorisations capped at 100 kg; physical inspection for first-time applicants; next AA only after 50% of prior export obligation; fortnightly CA-certified reporting.
100 kg per AA
SecondaryAmount not confirmed
Passengers carrying dutiable or prohibited goods must declare their accompanied baggage electronically in Customs Baggage Declaration CBD-I, with supporting documents, before entering the green channel; gold or silver other than ornaments is outside the free allowances.
Primary law
- Customs Baggage (Declaration and Processing) Regulations 2026; Baggage Rules 2026, reg. 3(1); r.5 and Annexure-I item 5
Trade credit (supplier's or buyer's credit incl. LC usance) for gold in any form max 90 days from shipment (C.11.2); QJs and TRQ holders may remit advances for IIBX purchases for eleven days, unused advance returned to the same AD bank within eleven days, Bill of Entry submitted to the remitting ban…
Official guidance
- RBI Master Direction - Import of Goods and Services, paras C.7, C.11.1-C.11.4
Gold of heading 7108 is "Restricted": imported only by nominated banks and nominated agencies (consignment basis), and by IFSCA-notified Qualified Jewellers and valid India-UAE CEPA TRQ holders through IIBX under specific ITC(HS) codes (71081210, 71081290); all domestic sale of gold is against upfro…
Official guidance
- ITC(HS) Schedule I policy conditions (DGFT notifications 49/2015-2020, 35/2023, 08/2025-26); RBI Master Direction C.11.1(ii); 45/2025-Customs condition 22, RBI MD para C.11.1(ii)
Gold jewellery and artefacts may be sold only by BIS-registered jewellers and must bear a hallmark to IS 1417 (cl. 2); the Order applies only to the districts in its Annexure (cl. 1A) - 385 districts in 26 States/UTs since S.O. 2117(E) of 28 Apr 2026. Exempt (cl. 2(3)): articles for export to buyer …
Primary law
- Hallmarking Order 2020 as amended (S.O. 2481(E) 2021; S.O. 1594(E) 2022; S.O. 2117(E) 2026), cls. 1A, 2
IIBX accepts only bars from LBMA Good Delivery or UAE Good Delivery refiners (spot: LBMA 995 1 kg, UAEGD 999 100 g).
Official guidance
Gold, silver and platinum jewellery (CTH 7113) moved from Free to Restricted from 1 Apr 2026, and articles, clad items and non-legal-tender coins from 2 Apr 2026; no transitional relief; exemptions for EOU/SEZ (no DTA sale), FTP export schemes and CEPA TRQ lines.
Secondary
Dealers in precious metals and stones that engage in cash transactions with a customer of Rs 10 lakh or more (single or apparently linked) are persons carrying on a designated business or profession and so reporting entities; CBIC (DGA) is their regulator. They must register with FIU-IND (FINGate 2.…
Rs 10 lakh cash
Primary lawAmount not confirmed
- PMLA s.2(1)(sa)(iv), ss.11A, 12, 12AA; PMLR rr.3, 8, 9; G.S.R. 799(E) and 800(E) of 28 Dec 2020; DGA guidelines 2023, PMLA ss.2(1)(sa)(iv), 12, 12AA; PMLR r.8
CEPA preference on gold requires UAE origin: the product-specific rule for 710812 is "Certified UAE/ India good delivery gold bars in different denomination"; goods must be transported directly (art. 3.12) and origin proved under the Customs (Administration of Rules of Origin under Trade Agreements)…
Primary law
- CEPA Annex 3B (PSR 710812), arts 3.12-3.14; Notification 22/2022-Customs proviso to para 1

Leg 4: South Africa

Where the goods arrive

999.9 kilobar → LBMA Good Delivery 400oz bar

29
Onboard the foreign depositor: KYC pack, mined-material questionnaire, refining agreement; apply LBMA Responsible Gold Guidance / OECD due diligence
Who
Refining-licence holder (refinery)
Issues
Refiner KYC pack on foreign depositor; KYC questionnaire for mined material; Refining agreement with depositor
Industry practice
Rand Refinery states KYC and conflict-free sourcing policies; its depositor requirements and the RGG text were not read in this pass.
30
Hold a current SADPMR permit to import unwrought precious metal (Form PMI: quantity, fineness, form, value, period, ports, countries of origin, purpose)
Who
Refining-licence holder (refinery)
Needs
SADPMR refining licence; SAPS police clearance certificate
Issues
SADPMR permit to import precious metals
Primary law
- Precious Metals Act; Precious Metals Regulations, s.10(1)-(2); regs 21-22
31
Ship dore by air to Johannesburg with the origin country's export authorisation, export declaration and assay
Who
Foreign mine or exporter depositing doré
Needs
Origin country's export authorisation for the gold (permit, licence or clearance issued by the mining or trade authority); Export customs declaration accepted by the dispatching country's customs; Assay certificate (fineness and fine weight); Air waybill
Issues
Air waybill, origin to Johannesburg (OR Tambo)
Unverified
[unconfirmed] PMA s.10(2)(b) requires the importer to declare and prove the origin of the metal in the permit application, and s.10(4) says the permit states the origin; which origin-country documents must accompany each shipment is not stated in any text read. The listed hand-off kinds are the model's route logic.
32
Enter the doré for customs with SARS on a bill of entry for import (the metal must be duly entered for customs under reg 21(4)(b)); entry may be refused if the Regulator considers it of dubious origin or incorrectly declared (reg 21(5))
Who
Refining-licence holder (refinery)
Needs
SADPMR permit to import precious metals; Air waybill, origin to Johannesburg (OR Tambo)
Issues
SARS import declaration for dore
Primary law
[not-read] Customs and Excise Act procedure, tariff heading 7108 and import VAT on doré not read (Act not held). Manual C(G): gold import applications are referred to SADPMR.
- Precious Metals Regulations; Customs and Excise Act 1964, reg 21(4)(b), 21(5)
  “A precious metal may be refused entry into the South Africa if - (a) that precious metal is in the opinion of the Regulator of dubious origin; or (b) that precious metal has been incorrectly described or declared.”
33
Carry the dore from the airport to the refinery with the reg 26 waybill; SADPMR or SAPS may inspect imported metal
Who
Secure carrier of precious metal
Issues
Waybill, port of entry to refinery
Primary law
- Precious Metals Act, s.10(3), s.13; reg 26
34
Submit specimens of the imported metal to the SAPS Forensic Science Laboratory
Who
Refining-licence holder (refinery)
Issues
Specimen submission (importer)
Primary law
- Precious Metals Act, s.22(1)
  “Any producer or any person who imports precious metal must submit to the Forensic Science Laboratory of the South African Police Service such specimens of any precious metals produced or imported by him or her as may be prescribed.”
35
Weigh, melt, sample and assay each lot on receipt; issue outturn (final assay and fine weight) to the depositor
Who
Refining-licence holder (refinery)
Needs
Refining agreement with depositor
Issues
Refiner outturn / assay report
Industry practice
36
Refine at the licensed premises and cast 400 oz Good Delivery bars, kilobars (995-999.9), minted bars (10/50/100 g, 999.9) or grain
Who
Refining-licence holder (refinery)
Issues
Refiner bar list for bars produced
Form
Doré bar - unstamped → LBMA Good Delivery 400oz bar
Primary law
- Precious Metals Act; Precious Metals Regulations, s.7(1), 7(5); reg 28 (minted bars)
37
Record receipts and outputs in the PMR2 register within 24 hours
Who
Refining-licence holder (refinery)
Issues
PMR2 refinery register entry / quarterly copy
Primary law
- Precious Metals Act, s.15(1); reg 33
38
Publish annual responsible-gold / LBMA compliance report
Who
Refining-licence holder (refinery)
Issues
Refiner responsible gold / LBMA compliance report
Industry practice
39
Credit fine gold to the depositor's metal account and hold the bars in the refinery vault pending sale or export
Who
Refining-licence holder (refinery)
Needs
Refiner outturn / assay report; Refiner bar list for bars produced
Issues
Metal account credit / settlement confirmation
Industry practice
Rand Refinery lists vault and logistics services; account terms not seen.
40
Domestic sale: supply bars to a registered bank, the SARB or the SA Mint on a tax invoice, zero-rated only if the gold has not undergone a prior manufacturing process other than refining; otherwise 15% VAT
Who
Refining-licence holder (refinery)
Issues
Tax invoice to bank/SARB/Mint (zero-rated s.11(1)(f) or standard-rated)
Primary law
[transcription] s.11(1)(f) wording from Lueven para [1]; VAT Act not held.
- Value-Added Tax Act 1991, s.11(1)(f)
41
Export sale: the Authorised Dealer reports the export proceeds with the SARS customs declaration details (customs client number, unique consignment reference); FinSurv monitors receipt electronically
Who
Authorised dealer in foreign exchange (commercial bank)
Needs
SARS customs declaration / bill of entry for export
Official guidance
- Currency and Exchanges Manual, B.18(D)
42
Receive the full export proceeds not later than six months from the date of shipment (an Authorised Dealer may allow credit of up to 12 months), in foreign currency or rand from a non-resident account; offer the proceeds for sale to an Authorised Dealer within 30 days or deal with them under the CFC account rules
Who
Authorised dealer in foreign exchange (commercial bank)
Needs
SWIFT MT103 payment confirmation (bank-to-bank, authenticated)
Issues
Inbound payment of export proceeds
Official guidance
- Exchange Control Regulations; Currency and Exchanges Manual, Regs 6, 10, 11; B.18(B); C(F)(ii)

Taxes and fees

VAT on other domestic supplies of gold
15% Domestic gold supplies not zero-rated (e.g. recycled gold to banks; sales to traders)
Primary lawAmount not confirmed
- Value-Added Tax Act 1991
VAT zero-rating of gold supplied to the SARB, SA Mint and banks
0% Refined primary gold sold to the SARB, the SA Mint or a registered bank; recycled gold excluded (Lueven Metals, ZACC 23 June 2026)
Primary lawAmount not confirmed
- Value-Added Tax Act 1991, s.11(1)(f)
SADPMR licence and permit fees
Refining licence R20,000; beneficiation licence R5,000; jeweller's permit R500; import permit R1,000; certificate R1,000; special permit R5,000; appeal R500 (Annexure A, 2014) Applications and renewals
Primary lawAmount not confirmed
- Precious Metals Regulations, Annexure A as substituted by GN R737 (GG 38014, 22 Sept 2014)

Controls

A business dealing in high-value goods (items valued in that business at R100,000 or more) is an accountable institution for transactions in which it receives payment of R100,000 or more (Schedule 1 item 20, from 19 Dec 2022): FIC registration (s.43B), risk management and compliance programme (s.42)…
Payment of R100,000 or more in a transaction; goods valued at R100,000 or more
Primary lawAmount not confirmed
- FICA 38 of 2001, Schedule 1 item 20; ss.20A-21H, 22-23, 28, 29, 42, 43B
A UN Security Council Chapter VII resolution identifying persons or entities 'has immediate effect for the purposes of this Act upon its adoption' (FICA s.26A(1)); the FIC Director must give notice of it (s.26A(3)). No person may, directly or indirectly, acquire, collect, use, possess or own propert…
Primary law
- FICA 38 of 2001, ss.26A-26C
  “A resolution adopted by the Security Council of the United Nations when acting under Chapter VII of the Charter of the United Nations, providing for financial sanctions which entail the identification of persons or entities against whom member states of the United Nations must take the actions specified in the resolution, has immediate effect for the purposes of this Act upon its adoption by the Security Council of the United Nations.”
Contravening s.5(4) (as enacted; replaced by s.5A from 7 June 2013), 19, 20(2) or 28 is an offence with a fine up to R100 000 or up to two years' imprisonment, or both (s.99(1)(a)); failing to notify the Minister before beneficiating abroad (s.26(3)) carries up to R500 000 for each day (s.99(1)(f)).
Primary law
- MPRDA 2002, ss.98, 99(1)(a), 99(1)(f)
Goods exported for sale must be sold, and the full proceeds received, not later than six months from shipment; an Authorised Dealer may allow credit of up to 12 months. Proceeds must be offered for sale to an Authorised Dealer within 30 days or dealt with under the CFC rules. The Authorised Dealer r…
Official guidance
- Exchange Control Regulations; Currency and Exchanges Manual, Regs 6, 10, 11; B.18(B), (D)
No export of unwrought or semi-fabricated gold except with the approval of the National Treasury under the Exchange Control Regulations, granted with the Minister's concurrence (PMA s.12(1)); no gold may be exported without Treasury permission (Reg 3); applications to export gold in any form are ref…
Primary law
- Precious Metals Act; Exchange Control Regulations, PMA s.12(1); Reg 3
Producers submit gold specimens (nuggets, concentrate, dore) to the SAPS Forensic Science Laboratory every six months, and importers submit specimens of imported metal, building a forensic database to trace seized gold to its source.
Primary law
- Precious Metals Act; Precious Metals Regulations, s.22(1); reg 29
  “Any producer or any person who imports precious metal must submit to the Forensic Science Laboratory of the South African Police Service such specimens of any precious metals produced or imported by him or her as may be prescribed.”
Except with Treasury permission, only authorised dealers may buy, borrow, sell or lend gold other than wrought gold (Reg 2). A resident entitled to sell gold must offer it for sale to the Treasury within 30 days unless exempted (Reg 5). Producers exempted by FinSurv from Reg 5 may sell their total o…
Primary law
- Exchange Control Regulations 1961, Regs 2, 5, 22
No import of unwrought or semi-fabricated precious metal without an SADPMR import permit (valid up to one year), issued after consulting the National Commissioner and the National Treasury, on documentary proof of origin (s.10(2)); the Regulator or SAPS may inspect and sample imported metal (s.10(3)…
Primary law
- Precious Metals Act, s.10, s.22(1)
  “must state the origin of the precious metal in question, the purpose of the import”
Export approval requires projections of monthly production against sales showing the applicant contributes to local demand; approval only where provision has been made to meet local demand for beneficiation.
Primary law
- Precious Metals Regulations; Precious Metals Act, reg 23(3)(a) as substituted by GN R387
Minted gold bars must be 10, 50 or 100 g, of prescribed dimensions and at least 999.9 fine (reg 28, Annexure B Table 1); only approved manufacturers may make them and no more than 500 000 troy ounces a year may be manufactured (reg 27B).
Primary law
- Precious Metals Regulations, regs 27B, 28; Annexure B
  “The quantity of minted bars that maybe manufactured in the Republic may not exceed 500 000 troy ounces in a calendar year”
Only a refining-licence holder, an authorised dealer, a producer (for gold it won or recovered), an SADPMR certificate holder, a holder of a special permit (metal not exceeding a prescribed mass, for scientific or beneficiation purposes or jewellery) or a beneficiation-licence holder may acquire, po…
Primary law
- Precious Metals Act, s.4(1), s.20(1)
Rand Refinery, as an LBMA Good Delivery refiner, applies KYC and conflict-free sourcing policies to depositors and publishes responsible-gold and LBMA compliance reports.
Industry practice
- LBMA Responsible Gold Guidance
Unwrought or semi-fabricated gold may not be carried outside a mine or refinery boundary without the prescribed waybill.
Primary law
- Precious Metals Act; Precious Metals Regulations, s.13; reg 26

Leg 5: Mali

Back in the origin country: the proceeds of the export

43
Pay the sale price to the Malian exporter's domiciling bank
Who
Foreign buyer or refiner (counterparty abroad)
Issues
SWIFT MT103 payment confirmation (bank-to-bank, authenticated)
Primary law
The payment channel (SWIFT message) is market practice; the obligation to collect in full and repatriate is primary law.
- Règlement 06/2024/CM/UEMOA; Instruction 03/07/2025/RFE, Règlement art. 11; Annex II art. 15; Instruction art. 7
44
Credit the exporter, repatriate without delay at least 80% of the proceeds through the BCEAO's correspondent accounts, annotate the transfer notice received via the BCEAO, and clear ('apurer') the domiciliation file after checking full repatriation and surrender; keep the file pour une durée de dix ans
Who
Authorised intermediary bank (intermédiaire agréé)
Issues
Transfer notice received via the BCEAO and clearance ('apuré') of the domiciliation file
Primary law
The file-retention period is written in words in the Instruction (dix ans) and is not held as an amount: the server reads number words in English only. The step's own deadline is 'sans délai'; no day count.
- Règlement UEMOA on external financial relations, annexes; BCEAO Instruction on domiciliation files, Instruction art. 6
  “Article 6 : Constitution des pièces justificatives de l'encaissement du produit des exportations de biens et de services”
- Règlement UEMOA on external financial relations, annexes; BCEAO Instruction on domiciliation files, Instruction art. 7
  “lequel est tenu de procéder, sans délai, au rapatriement effectif, via les comptes de correspondants étrangers de la BCEAO, d'au moins 80% du montant global encaissé au titre des recettes d'exportation.”
- Règlement UEMOA on external financial relations, annexes; BCEAO Instruction on domiciliation files, Instruction art. 8
  “Article 8 : Apurement du dossier de domiciliation d'exportation de biens et services”
- Règlement UEMOA on external financial relations, annexes; BCEAO Instruction on domiciliation files, Règlement annex II art. 15 (in the section parsed as art-14-dup2)
  “Les produits des exportations de biens et de services, soumises ou non à la procédure de domiciliation, sont intégralement encaissés et rapatriés par les exportateurs dans un délai fixé par la BCEAO.”
- Règlement UEMOA on external financial relations, annexes; BCEAO Instruction on domiciliation files, Règlement annex II art. 15
  “l'intermédiaire agréé est tenu de céder à la BCEAO le produit en devises des recettes d'exportation de biens et services dans un délai fixé par la Banque Centrale”

Crossings between countries

Mali → United Arab Emirates Researched
Papers that cross: Mine-site weighing, sampling and assay of doré (in Mali); Autorisation préalable d'exportation d'or (Minister of Finance); Export customs declaration (Mali Customs); Certificate of origin for gold exported from Mali; Packing list; Air waybill
United Arab Emirates → India Researched
Papers that cross: Dubai Customs declaration filed online (for goods entering a free zone: "FZ Transit In"); Disclosure of precious metals crossing the UAE border (cargo included); Refiner outturn/assay report; Manufacturer certificate accompanying UAEGD bars (states year of manufacture if not stamped); Output record: unique reference, refiner name and stamp, year for each bar; UAE Certificate of Origin / re-export documentation (Dubai Chambers); Dubai Customs export/re-export declaration; Air waybill, Dubai -> Zurich/Geneva
India → South Africa Not researched
Papers that cross: Baggage declaration; Bill of Entry for gold dore (actual-user); Duty and IGST payment on dore; Refinery outturn assay; List of refined bars produced; Advance Authorisation (gold); Facility inspection report; Bill of Entry for gold imported against AA; Shipping Bill for jewellery export

Paperwork gaps

ae.st-21 expects Pre-shipment notification to refiner/buyer; the earlier legs don't model this paper
za.st-42 expects SWIFT MT103 payment confirmation (bank-to-bank, authenticated); the earlier legs don't model this paper