Oman to delay VAT till 2019

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Oman to delay VAT till 2019

Jan 2, 2018 10:21 AM

Oman will delay implementation of Value-Added Tax (VAT) till 2019 but will start selective tax on some goods later in the year reports said. The application of the selective tax on certain products will...

Oman will delay implementation of Value-Added Tax (VAT) till 2019, but will start 'selective tax' on some goods later in the year, reports said.

The application of the selective tax on certain products will start by the middle of 2018, a Times of Oman report quoting Oman TV said.

The products targeted for the so-called ‘sin tax’ are fizzy drinks, cigarettes and energy drinks, it said.

The delay in collecting the VAT until 2019 is expected to provide the country’s businesses with more time to prepare for it, the report said.

Saudi Arabia and the UAE have launched a 5 per cent VAT on January 1. It was earlier planned to introduce VAT in all GCC states simultaneously in January 2018. But this has been delayed in some countries.

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