The Gulf Co-operation Council (‘GCC’) region is undoubtedly a very attractive jurisdiction for global investments mainly because of its favorable tax regimes. As per GCC’s diversification strategy and to decrease reliance on revenue from hydrocarbons, GCC nations have devoted to launch new indirect taxes and some other taxation reforms. But the developing GCC tax regimes […]
New doors are opening for more and more investments for the Al Mazunah Free Zone in Oman, which comes under the purview of the Public Establishment for Industrial Estates.
As technology and internet are becoming imperative in running operations of an organization, or managing online and electronic transactions domestically and internationally, having a strong legal framework to protect the interests of stakeholders is very important.
The GCC council has set the stage for VAT implementation from the start of this year or in the first quarter of 2018, and the member states of the United Arab Emirates and Saudi Arabia have issued a formal announcement and implemented VAT law in their respective provinces.
Oman is the second country of the Gulf Cooperation Council (GCC) to join the BEPS framework of the OECD. The BEPS framework is the acronym of Base Erosion and Profit Shifting initiative. This initiative is on the lookout for curbing painful taxation procedures.