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FINANCIAL NEWS
VAT to add USD1bn to Oman government’s coffer
20 Nov 2016
(MENAFN) The installation of value added tax (VAT) is predicted to add almost USD1bn to government coffers as the IMF predicted.
Accordingly, a consumer tax, will account for almost 1.5 percent of the GDP although the amount can fluctuate depending on variables.
Moreover, government policies on VAT are not stated yet, while they are predicted to follow global standards that aim to minimize effects on the country’s economy.
However, all taxes have a negative impact on the whole GDP of the country, while the rate planned is very low by global standards.
More News
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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