VUB/ULB professor calls for black box registration for diamond industry

Opinion piece
11/02/2015 11:14

On the heels of the Swiss Leaks/HSBC revelations, professor of tax law at the Free University of Brussels, Michel Maus, has appealed in an opinion piece in De Morgen to the diamond sector in Belgium to “play by the rules of tax game”.

The presence of representatives from the diamond sector on the list of those holding a Swiss bank account with HSBC has once again raised the spectre of potentially negative revelations that threaten to further tarnish the reputation of the diamond industry, “and that is very unfortunate” writes Maus, though he cautions against assuming wrongdoing before it is proven.

The ideal solution for the industry as well as the government going forward would be setting up a transparent registration system for the diamond industry. Referring to the TCRS (tax register cash system), commonly known as the “white cash register” (witte kassa) introduced in the hotel and catering industry in January, Maus believes that the diamond industry would benefit from “organizing some self-regulation and demanding from its members that they respect the tax regulations”.