Oman: VAT and Income Tax Law Amendment Under Microscope

Published July 20th, 2020 - 01:30 GMT
Oman: VAT and Income Tax Law Amendment Under Microscope
Oman has indicated its intention to introduce value added tax (VAT) at 5% from early in 2021. (Shutterstock)
Oman's Majlis Al Shura will discuss value-added tax (VAT) law and an amendment of the income tax law, said Sheikh Ahmed bin Mohammed Al Nadabi, Secretary-General of Majlis Al Shura.

He added that the opinion of the State Council will also be presented on the articles bearing differences between the two councils regarding the personal data protection law.

He said: “Majlis Al Shura will discuss the vision of the Economic and Financial Committee about the agreement on the Sultanate’s joining to the Geneva Act under the title (Appellations of origin and geographical indications), in addition to a number of issues related to reports of the permanent working committees, namely “Youth and Human Resources”, “Health and Environmental”, “Economic and Financial” and “Media and Culture”.

Sheikh Al Nadabi indicated that Majlis Al Shura will review, during these sessions, a number of ministerial responses on the supervisory tools that were previously submitted by members of the Majlis during the current sitting.

Majlis Al Shura will hold 23, its tenth to thirteenth regular sessions of the first annual sitting (2020-2019) for the 9th term.

© Muscat Media Group

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