MUSCAT: Oman’s Majlis Al Shura on Monday hosted government officials to discuss the draft of Value Added Tax (VAT) which is likely to be implemented from early next year.
According to sources, Shura hosted Saud Al Shukaili, Vice President of Oman Tax Authority and officials from the Ministry of Commerce and Industry (MOCI), and the Public Authority for Consumer Protection (PACP).
Shura members discussed the views regarding various articles in the draft law including its impact on various sectors.
Early in January, His Excellency Dr. Ali bin Masoud Al Sunaidy had hinted the government’s plans to introduce a 5 percent VAT by 2021. “VAT is something people don’t like it but this is something we have been lobbying for. It will come into effect sometime in the beginning of the next year,” said he said in an interview at the World Economic Forum in Davos.