Muscat: Majlis Ash’shura referred the drafts of the Value Added Tax (VAT) Law and the Income Tax Law, to the State Council after voting on the remaining articles through the Economic and Financial Committee’s report.
Saleem bin Ali al Hakmani, Chairman of the Economic and Financial Committee said that after studying the drafts Value Added Tax Law and Income Tax Law, referred by the Council of Ministers as a matter of urgency, the committee has agreed with what was stated by the two drafts. Following the council members unanimous vote on the committee’s report, the drafts were referred to the State Council.
This happened at the eleventh ordinary meeting of the current annual sitting (2019-2020) of Majlis Ash’shura held on Tuesday under the chairmanship of Khalid bin Hilal al Maawali, while following the precautionary measures and preventive guidelines set by the Supreme Committee.
The Council also reviewed the report of the Economic and Financial Committee regarding the project Sultanate’s joining the “Geneva Act of the Lisbon Agreement on Appellations of Origin and Geographical Indications”.
The Council approved the Media and Culture Committee’s report on the child’s reality in the Sultanate.
During the meeting, Majlis Ash’shura ratified the Economic and Financial Committee’s report on encouraging regulating the manufacturing sector which focused on evaluating the plans, policies and programmes designed for the sector and shedding light on its contribution to the economy. — ONA
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