Oman has announced plans to introduce a five per cent value-added tax (VAT) in six months' time.
A royal decree has been issued in this regard.
The Oman News Agency stated that the tax will be imposed on most goods and services with some exceptions.
Healthcare, education, financial services, basic foodstuff, and supplies for people with disabilities will not be covered by the VAT.
The latest move is in line with a unified value-added tax agreement signed by GCC members in November 2016.
New Emirates Crew Training Centre powers next-gen aviation growth
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Google pledges $6.8 billion in UK investment ahead of Trump's state visit
Google said on Tuesday it would make £5 billion ($6.80 billion) in new investments into Britain ahead of US President Donald Trump's state visit to the country, which is expected to feature a flurry of business deals and partnerships.
US, China reach framework deal on TikTok
US and Chinese officials said they have reached a framework agreement to switch short-video app TikTok to US-controlled ownership that will be confirmed in a Friday call between US President Donald Trump and Chinese President Xi Jinping.
UAE, Egypt sign $30 million deal to drill oil & gas wells in Suez Gulf
UAE-based Dragon Oil, owned by the Emirates National Oil Company, has signed an agreement worth $30 million with the Egyptian General Petroleum Corporation to drill two new oil and gas wells in the Gulf of Suez.
Asian businesses account for 58% of Dubai International Chambers in H1
Dubai International Chamber has said that 58 per cent of the multinational companies (MNCs) it attracted to the city during H1 2025 came from Asia.
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