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Ministry of Finance

Ministry of Finance latest

Oman’s total revenue in 2018 equalled OMR10.949 billion in 2018, while the total expenditure - how much the state has spent during the year - totalled OMR 13.599 billion.
September 23rd, 2019 - 11:46 GMT

Corporate Income Tax Collection Soars in Oman

Oman collected almost OMR100 million more in corporate income tax in 2018 than it did in 2017, according to the country’s final accounts report for last year. {"preview_thumbnail":"https://cdn.flowplayer.com/6684a05f-6468-4ecd-87d5-a748773282a3/i/v-i-0…","video_id":"0f1dfe4b-ef8a-48b8-9604-07009c97ae63","player_id":"8ca46225-42a2-4245-9c20-7850ae937431","provider":"flowplayer","video":"The Worst 10 Destinations for Expats"} The report, which was released in a ministerial decision from the Ministry of Finance yesterday, showed that Oman had collected OMR 463,112,782 in corporate income tax in 2018, compared to 366,487165 in 2017 and 388,634,659 in 2017 ...
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Oman’s economy is expected to grow by a minimum of 3 percent in 2018. (Pictured here: Sultan Qaboos of Oman /AFP)
January 3rd, 2018 - 07:00 GMT

Oman’s 2018 Budget Projects Economic Growth of 3 Percent

Oman has announced it will postpone the implementation of the value-added tax (VAT) until 2019. Kuwait could follow suit, experts say. (File photo)
December 26th, 2017 - 11:22 GMT

Oman to Postpone VAT Until 2019, Kuwait Could Follow

King Salman on Tuesday announced Saudi Arabia’s largest-ever budget for 2018. (AFP/ File)
December 19th, 2017 - 04:11 GMT

Saudi Arabia Announces $260 Billion Budget for 2018, Its Largest Ever

“The UAE is exploring other tax options according to best international practices.” - Ministry of Finance (File photo)
December 12th, 2017 - 06:00 GMT

UAE Mulls New Taxes, Other Than VAT

Amidst an ongoing health crisis in the Gulf region that has seen cases of diabetes, obesity, and heart disease soar, the government has sought to reduce the consumption of harmful products through this excise tax on sugary drinks and tobacco (Shutterstock/File Photo)
October 1st, 2017 - 01:42 GMT

UAE's 'Sin Tax' Takes Effect Today

Are you ready for VAT? (File photo)
September 6th, 2017 - 12:38 GMT

Consumer's Guide: Zero-Rated and Exempt Goods in UAE's VAT Law

Here is good news for UAE residents: There will be no value-added tax (VAT) on air travel, tuition fees and doctor's fees. (File photo)
August 29th, 2017 - 01:26 GMT

Good News for UAE Residents: No VAT on Air Travel, School Fees or Doctor's Bill

Traditional and alternative medicines and therapies (reflexology, acupuncture, etc.) and cosmetic surgery will all be subject to VAT. (File photo)
August 23rd, 2017 - 01:50 GMT

How Will VAT Affect the UAE Healthcare Sector?

Saudi Arabia offered its first Riyal-denominated Sukuk to investors on Sunday this week. (File photo)
July 25th, 2017 - 09:38 GMT

Saudi Arabia Gets Bids of $13.6 Billion for $4.5 Billion Domestic Sukuk: SPA

The absence of a legal framework for bankruptcy has long been a hindrance to UAE businesses. Not anymore. (Shutterstock)
July 23rd, 2017 - 11:17 GMT

A Look at UAE's New Bankruptcy Law: How It Works and Why It's Good News

Economic growth this year for Saudi Arabia is forecast to be around 0.1 percent. (File photo)
July 23rd, 2017 - 09:30 GMT

Saudi Arabia's 2017 Growth Forecast 'Close to Zero': IMF

Egyptian Foreign Minister Sameh Shoukry (C) reads a statement while giving a joint press conference with his Saudi, Emirati and Bahraini counterparts on July 5 2017 (Khaled Elfiqi/Pool/AFP)
July 8th, 2017 - 02:30 GMT

Gulf Crisis: Qatar Denies Renewed Allegations From Neighbors

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