There has been a rise in tax imposed by Sierra Leone on high-value diamond exports. Tax has been raised from 6.5 percent to 15 percent, on diamonds valued $500,000 and above. The imposition was put into effect from December 28, 2009. %% According to reports, the diamonds previously exported under the 6.5 percent tax bracket were not in the interest of the country, and the new tax would be a windfall. As per the new minerals law passed by the country’s parliament, diamond royalties have been increased from 5 percent to 6.5 percent and that of gold from 4 percent to 5 percent, reports say. The government is expecting to raise revenues and promote national economic development. Reports mention that the country exported $98 million worth of diamonds in 2008.