State Council to discuss VAT tomorrow

Muscat: The State Council will discuss the draft ‘amendment of the Income Tax Law’ referred by the Council of Ministers as a matter of urgency and following the report of the Council’s Economic Committee.

Earlier, Majlis A’Shura transferred the Value Added Tax (VAT) Draft Law and Income Tax Draft Law to the State Council after a voting session based on the report of the Majlis’s Economic and Financial Committee.

Sulayim bin Ali al Hikmani, Head of the Economic and Financial Committee, said that the committee unanimously okayed the two draft laws forwarded to the Majlis earlier by the Council of Ministers.

This took place during the 11th ordinary session of the Majlis’s First Annual Sitting (2019-2020) of the 9th Term of the Majlis A’ Shura.

The members of the committee expressed their support for the exemption of people with low income from payment of the VAT, among other solutions to assist the needy segment.

 

 

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