Pros and cons of value added tax discussed
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.