In your opinion, what is the feasibility of introducing new taxes to the sultanate in order to strengthen the country’s fiscal position? How will this affect the region?
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Interviews & Viewpoints | Kenneth Macfarlane, Country Senior Partner, PwC: Interview from The Report: Oman 2016
Articles & Analysis | New taxation schemes in Oman would affect businesses and consumers from The Report: Oman 2016
Decreased revenue flows from oil and gas exports are prompting GCC states to look to diversify their economies and income streams and to consider other forms of taxation with increasing urgency. The Oman tax authorities are focusing on increasing their tax revenues, and may be seen to be applying the current tax legislation more rigorously...
Articles & Analysis | Oman's taxation framework accounts for diverse corporate structures from The Report: Oman 2016
A range of tax regulations exists in Oman and varies according to organisational type and provenance.
This chapter contains an overview of the tax framework within which local and international investors operate in Oman, including an examination of the FTAs in place and how they are enabling more foreign investments, and a rundown of the proposed changes to the VAT laws currently under examination. This chapter contains an interview with Kenneth Macfarlane, Country Senior Partner, PwC.
Oman’s long history of political stability coupled with its favorable international trade agreements and special economic zones has ensured strong growth in economic output and exports in recent years. The fall in global prices is undoubtedly a concern for the sultanate, but the sustained focus on diversification schemes, as well as the country’s ongoing spending commitments on big-ticket projects should ensure steady growth moving forward.
Articles & Analysis | New laws in Egypt to impact personal and corporate taxation from The Report: Egypt 2016
Following a series of new laws that were issued in recent year, Law No. 96 was issued in 2015 to modify some articles in the corporate income tax (CIT) law. The practical application of some of the new concepts in the tax law has been clarified with the issuance of a set of executive regulations.