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FINANCIAL NEWS
Oman’s new SME classification to increase coordination
18 Jan 2016
(MENAFN) A new classification presented for micro, small and medium initiatives will support increase coordination between various bodies dealing with these businesses.
Moreover, a micro enterprise has 1-5 employees and annual sales of less than USD 259.8mn; a small enterprise has 6-25 workers and annual sales of USD 259.8mn- USD 1.29mn.
However, medium enterprise has 26-99 employees and annual sales of USD 1.29bn- less than USD 7.79bn.
This new move will support increase collaboration between different bodies dealing with these units, and will help facilitate the implementation of any decision related to taxation of SMEs.
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