BUSINESS REPORTER
MUSCAT, Oct 10
A practical Masterclass on VAT hosted by Crowe Oman will be inaugurated by Redha bin Juma al Saleh (pictured), Chairman, Oman Chamber of Commerce and Industry (OCCI) at the Crowne Plaza Hotel Qurum on Tuesday, October 12.
“The objective is to bring awareness among the business community at large on the significance of the requirement to comply with the rules and regulations of Value Added Tax’’, said Davis Kallukaran, Managing Partner, Crowe Oman.
“Though VAT was introduced from April 16 of this year, we find that there are so many businesses who are yet to comply with the regulations while a few others are not in full compliance with the rules and regulations especially with regard to registration’’, added Antony Kallukaran, Associate Tax Advisory Partner at Crowe.
The significance of Oman VAT is that it is structured in such a way that most of the goods and services essential to the common man are either exempted or zero rated like food items, medicine, education, healthcare, inland goods and passenger transportation, and sale and rental of residential properties, among other categories, he noted.
The one-day workshop is targeted at finance professionals across a wide spectrum of the businesses in Oman.
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