Oman begins implementing value-added tax in April, excluding 94 food items

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Thu, 2021-01-07 14:04

The Tax Authority today issued three executive decisions pertaining to the implementation of the Value Added Tax (VAT), which will enter enforcement stage by April 16, 2021, according to the Oman News Agency, which has revealed that 94 mostly food items have been exempted from tax.   

Oman’s Ministry of Finance stressed that the implementation of this tax is estimated to generate over $780m, thus helping fill the budget deficit. 

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