The Shura Council in September 2020 agreed to recommendations regarding a draft value added tax (VAT) law, and returned the draft law to the State Council.
The version of the draft VAT law before the Shura Council included:
- A requirement that the introduction of a VAT regime would coincide with Oman’s GDP achieving a specified growth rate or threshold
- Relief from VAT or VAT exemptions for medium and low-income taxpayers
- Allocation of part of the revenues realized from the VAT to support medium and low-income groups
Source KPMG
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