Flash Alert – Oman

It is believed that the Oman’s Shura Council has discussed draft VAT Legislation, proposed 104 commodities as Tax Exempt and has offered three conditions for Introduction of VAT

1. Minimum GDP Growth Rate of 3%
2. It should only affect people with monthly Income of RO 900
3. Allocation of RO 100 million yearly to support low-Income groups

With this, we can expect the draft VAT legislation to be released soon.