"Render unto Caesar that which is Caesar's…"

(Jesus answering the Jews as to whether they should pay taxes to Rome…)

Let's be absolutely clear regarding this point: SHERWOODS is in no way, shape or form advocating or promoting the evasion of sales tax or VAT to the respective countries in which it is due.

Our international marketing is aimed towards investors who are interested in diamonds as a pure investment. To accomplish this, many investors, as do many diamond dealers, use the Free (or favorable) Trade Zones of the world in order to purchase their diamonds on a no-tax or low-tax basis where it's legal, and on a tax-deferred basis where it's not.

Let's take Geneva Freeport as an example. An investor can purchase a diamond on a 0% tax-deferred basis there, and then indefinitely store the diamond within that zone. That diamond can then be bought and sold several times between investors at a 0% tax-deferred basis without ever leaving the Freeport.

This (in particular for an investor in the high VAT European Union, Russian Federation or other CIS countries) results in substantial (up to 27%) savings, allowing the investor to purchase and work with important diamonds at pure investment levels.

However, once it leaves the Freeport for the end consumer, it is subject to the taxes of the country in which the end consumer takes possession. At that point he or she is responsible for "rendering unto Caesar that which is Caesar's…".

It is the same for all the world's Free Trade Zones. The end consumer who takes possession of the diamond out of the FTZ into his country is responsible for paying his countries' taxes, if they are countries or regions that tax (some don't).

"By choosing our company to store your goods you may opt for either free port or Swiss status. Storing goods under free port status allows temporary postponement of VAT and customs duty payments until such time as the goods reach their final destination. Goods may be stored in transit for an unlimited amount of time.
A storage under Swiss status is subject to Swiss customs duties & taxes"
- Geneva Free Ports & Warehouses, Ltd,

"Geneva Freeport is a warehouse complex in Geneva, Switzerland for the storage of art and other valuables and collectibles. Some say it's the 'premier place' to store valuable works of art, and 'they come for the security and stay for the tax treatment'. It is the oldest and largest free- port facility and the one with the most artworks. According to Jean- Rene Saillard of the British Fine Art Fund, 'It would be probably the best museum in the world if it was a museum'. In 2013, the Freeport held about 1.2 million works of art. As well as art and gold bars, there are about three million bottles of wine.
- Wikipedia