Majlis A’Shura Forwards Draft Laws on VAT, Income Tax to State Council

Muscat, Majlis A’Shura today transferred the Value Added Tax (VAT) Draft Law and Income Tax Draft Law to the State Council after a voting session based on the report of the Majlis’s Economic and Financial Committee.

Sulayim bin Ali al-Hikmani, Head of the Economic and Financial Committee, said that the committee unanimously okayed the two draft laws forwarded to the Majlis earlier by the Council of Ministers.

This took place during the 11th ordinary session of the Majlis’s First Annual Sitting (2019-2020) of the 9th Term of the Majlis A’Shura.

Convened today, with full anti-pandemic precautions undertaken as per the measures set by the Supreme Covid-19 Control Committee, the session was headed by Khalid bin Hilal al-Ma’awali, Chairman of Majlis A’Shura, in presence of Sheikh Ahmed bin Mohammed al-Nadabi, Secretary-General of the Majlis.

The members of the committee expressed their support for the exemption of people with low income from payment of the VAT, among other solutions to assist the needy segment.

The Majlis also reviewed the report of the Economic and Financial Committee about a draft on the Sultanate’s joining “Geneva Act of the Lisbon Agreement on Appellations of Origin and Geographical Indications”.

It also approved the report of the Media and Culture Committee about children media realities in the Sultanate and related evolution proposals, as well as a report made by the Economic and Financial Committee on regulating and encouraging the industry sector, following its study titled “Converting Industries Sector As A Model”.

The session touched on other topics, including urgent calls on Omanising the profession of “Advocacy Before the Supreme Court and Appeal Court”, the employment of Omani job seekers, the role of the National Recruitment Centre and contract-based appointment of Omani lecturers at technical colleges.

Source: Oman News Agency