First specialised OCCI evenings from today, to discuss VAT issues

MUSCAT: Oman Chamber of Commerce and Industry (OCCI) will launch today the first specialised seminar which is part of the annual programme for Umsiyat; an initiative promoted by OCCI BoD 2018-2022.
The seminar will be held under the theme ‘Value Added Tax, the reasons, aims and possible effects on economy and development’.
The seminar aims at highlighting the government trend to impose value added tax. The speakers will highlight the importance of implementation, the pros and cons as well as the socioeconomic effects on the Sultanate. A number of experts, officials and specialists will take part at the seminar organised in cooperation with a number of relevant public and private organisations.
The seminar will host Dr Saleh bin Said Musin, Head of the Economic and Financial Committee at Majlis Ash’shura, and Ahmed al Makhini from the Capital Market Authority. The seminar will cover a number of themes, the most important of which is to know the reasons that led the government to apply the tax as well as the economic and social benefits from its application.
It will also discuss the special effects on the final consumer and limited income people. It will also check readability for its application by various stakeholders (the government, the private sector and the final consumer).
Abdul Azeem bin Abbas al Bahrani, CEO of OCCI, said that the current OCCI board chaired by Qais bin Mohammed al Yousef adopted these seminars with an updated vision compared to the previous OCCI Ramadhan Evening.
The seminars will be held regularly throughout the year to discuss the hot issues of the day which affect the business and economic environment in the Sultanate.
The seminars aim at coming out with novel, practical and implementable solutions for the challenges facing the Omani economy. They also highlight the possible effects of such challenges and issues on the growth of national economy.
He noted that issues to be discussed will be selected carefully and will highlight the challenges facing businessmen and investors.
Necessary considerations will be given to the peculiarity of the Omani society and private sector.
The evenings will focus on coming out with a common vision towards the solutions for the problems facing the Omani private sector and the possibility of coordination with the relevant organisations to address this issue. He added that the evenings target all those interested in the business and economic affairs of the Sultanate as well as OCCI members and the public.
The evenings come within the efforts made by OCCI to enhance its relationship with its partners and to promote governance. — ONA