Strict monitoring: Authority Chairman convenes meeting of top officials and Tax Authority representatives
BUSINESS REPORTER -
MUSCAT, MARCH 27 -
Ahead of the start of Ramadhan and the anticipated introduction of Value Added Tax (VAT), the Consumer Protection Authority convened a meeting of its top officials in various governorates to ensure stable consumer prices during the holy month and the smooth application of VAT on consumer goods.
The online meeting was presided over by Salim bin Ali al Hakmani, Chairman of the Consumer Protection Authority. Also in attendance were senior representatives of the Tax Authority of the Sultanate.
In welcome remarks, Al Hakmani underlined the important role of the Authority in monitoring consumer markets primarily to deter any price manipulation on the part of traders.
He also warned against any temptation by market players to exploit heightened demand for consumer goods during Ramadhan.
Commenting on the imminent roll-out of VAT on April 16, Al Hakmani said the Authority has been in regular touch with the Tax Authority to ensure the smooth implementation of the new levy.
During the meeting, Tax Authority representatives Karima bint Mubarak al Saadiyah, Acting Director of Policies and Planning, and Mohammed bin Jamil al Saifi, Director of the Tax Policy Department, outlined the salient features of VAT and their ramifications for consumer prices.
On the issue of animal feed prices, the meeting reviewed the latest developments on this matter, stressing that feed prices were being constantly monitored in conjunction with international developments impacting price trends.
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