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All parties must be aware of implications of VAT in Oman, tax official says.

by Times News ServiceSalim Al Adi, Director General of Inventory and Tax at the General Secretariat for Taxes, made the comments at a Value Added Tax seminar at the Oman Chamber of Commerce and Industry. Photo: OCCI/Twitter

Muscat: "Awareness is a must before imposing Value Added Tax," the head of Oman's top authority for regulating taxes has said. Salim Al Adi, Director General of Survey and Tax Agreements at the Secretariat General for Taxation, made the comments at a Value Added Tax seminar at the Oman Chamber of Commerce and Industry. Al Adi said: "The government will apply no taxes to medicine, education, health, food, commodities, and parts of the transport and housing sector," adding that all parties must be prepared. With regards to where the income from VAT should be directed to, Saleh Musin, the head of the Economic Committee at Shura Council said, "Tax revenues should be directed to the public services and to reduce the income inequality between the members of the society."

"If VAT is imposed, it will hit the middle-income class hard, whose wages range between OMR300 to OMR600, which constitutes 60 per cent of the community. I believe that we need a full tax reform and not just partial," Musin added. The seminar at OCCI looked at the motives, objectives and potential impacts of VAT on the economy and on development. It also considered the positive and negative aspects of its implementation.

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Publication:Times of Oman (Muscat, Oman)
Geographic Code:7OMAN
Date:Sep 26, 2018
Words:250
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