Pros and cons of value added tax dis­cussed

Oman Daily Observer - - FRONT PAGE -

MUSCAT: Dr Yahya bin Mah­foudh Al Man­theri, Chair­man of the State Council, on Mon­day chaired the 13th Bu­reau meet­ing in the pres­ence of the Bu­reau mem­bers and Dr Khalid Saeedi, the Sec­re­tary Gen­eral of the Council.

The State Council Chair­man ex­tended his sin­cere con­grat­u­la­tions to His Majesty Sul­tan Qa­boos on the oc­ca­sion of the 47th an­niver­sary of the glo­ri­ous Na­tional Day.

Fol­low­ing dis­cus­sions, the Bu­reau ap­proved the theme pre­sented by the Eco­nomic Knowl­edge Task Force, “The State Council’s pro­posal to es­tab­lish a mora­to­rium that con­trib­utes to the trans­for­ma­tion of the knowl­edge-based econ­omy”.

The meet­ing dis­cussed the pro­pos­als pre­sented by the Eco­nomic Com­mit­tee, for the third an­nual ses­sion on the es­tab­lish­ment of free zones in Bu­raimi and Mu­san­dam gov­er­norates. The study deals with the in­te­gra­tion of the stan­dard of liv­ing and pro­duc­tiv­ity, and the pos­si­bil­i­ties of strength­en­ing the in­de­pen­dence of the na­tional econ­omy, and dis­cusses the sub­ject of value added tax, its ad­van­tages and po­ten­tial im­pact on the Omani econ­omy. The Com­mit­tee also re­viewed the Global Com­pet­i­tive­ness Re­port.

Fur­ther, on it dis­cussed the re­port on “Value Added Tax (VAT) with its ad­van­tages and po­ten­tial ef­fects on the Omani econ­omy” and de­cided to re­fer it to the next ple­nary ses­sion to re­view it. It also dis­cussed the pro­posal of the Eco­nomic Com­mis­sion to ad­dress the com­pe­tent au­thor­i­ties re­gard­ing the “Laws is­sued be­fore the date of the is­suance of the Statute of the State and have not been amended.”

In the same con­text, the Bu­reau dis­cussed the sub­ject sub­mit­ted by the So­cial Com­mit­tee on the study of the “De­vel­op­ment of a na­tional pro­gramme of govern­ment per­for­mance and cre­ativ­ity”, as well as a se­ries of pro­pos­als and re­ports sub­mit­ted by a num­ber of honourable mem­bers.

The Bu­reau de­cided the agenda items of the first reg­u­lar ses­sion of the third an­nual ses­sion of the sixth ses­sion sched­uled for to­day.

Newspapers in English

Newspapers from Oman

© PressReader. All rights reserved.