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Water, airports top in non-tax revenues

July 23 Airport 2
July 23 Airport 2

Muscat: Water and airports were major contributors to the government’s non-tax revenues in 2018, according to the annual report released by the Central Bank of Oman (CBO). The report, however, added that revenues from the water sector fell by 44.4 per cent to RO 53.9 million in 2018 from RO 97 million in 2017. While revenues from airports declined marginally by 1.3 per cent to RO 68.8 million in 2018 from RO 69.7 million in 2017, revenues from passport and immigration fees increased by 5.6 per cent to RO 62.7 million in 2018 from RO 59.4 million in 2017, the report said.

There has been a decline in revenues from other services including public communication services toll, and miscellaneous revenues and others.

Overall, non-tax revenues declined by six per cent to RO 969.4 million in 2018 from RO 1031.7 million in 2017, despite a noticeable growth in income from government investments. Income from government investments constituted the highest share of 44.2 per cent in non-tax revenues, followed by compensation, fines and forfeitures (10.7 per cent), and miscellaneous administrative fees and charges (8.7 per cent).

Income from government investments, reversing the declining trend of 2016 and 2017, witnessed a considerable growth amidst the improving overall macroeconomic environment that resulted in improved assets valuation in the Sultanate, the report said. “Hotels, restaurants and transport, storage and communication together contributed 6.4 per cent to overall GDP and 13.4 per cent to the GDP emanating from the services sector during the year, which is much lower, given the significant improvement in transport and communication infrastructure,” the report added.

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