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Oman Becomes the Fourth GCC Country to Implement VAT

Oman Becomes the Fourth GCC Country to Implement VAT

The Value Added Tax (VAT), a consumption tax system has been enforced in Oman on Friday, the 16th April 2021 and the Sultanate has become the fourth country to join the other three GCC member states including the UAE, Saudi Arabia, and Bahrain to introduce this tax.
Oman Introduces New Foreign Capital Investment Law

Oman Introduces New Foreign Capital Investment Law (FCIL) Listing 70 Prohibited Activities

The Omanis Ministry of Commerce and Industry, (MOCI) issued the Executive Regulations of the new FCIL in June 2020 which specified provisions relating registration of the foreign investment projects including benefits available to specified projects and land allocation for investment and business purposes and, an inspection of the projects by the Omani regulatory authorities.