TAG: The Middle East
For those of us who have kept a keen eye on Saudi Arabia, the past 12 months have been all about the fleshing out of Vision 2030. Just how will the ambitious plans come to fruition?
As Oman looks to reforms, including taxation, to broaden its revenue base, OBG’s Business Barometer surveys the reaction of CEOs in the sultanate. Unsurprisingly, these changes have met with mixed reactions. Of the more than 170 executives surveyed, 83% said that Oman’s tax environment is competitive or very competitive on a global scale. However, nearly half expect the increase in corporate tax, from 13% to 15%, to have negative effects on local business sentiment and foreign direct investment inflows.
When I wrote about a year ago on the findings of our inaugural Oxford Business Group Business Barometer: Oman CEO Survey, I talked of the “no pain, no gain” scenario for the sultanate’s planners. Our findings back this up – if anything, more explicitly – 12 months later.