The adoption of the draft agreement was announced by Kuwaiti Minister of Finance Anas Al Saleh, on the sidelines of the 100th meeting of the GCC Fi- nancial and Economic Coopera- tion Committee, Kuwait News Agency (KUNA) reported. According to the VAT draft agreement recently adopted by GCC offi cials, Oman, as well as other member states, should is- sue a local law to introduce VAT, provided that common principles of the agreement are included. While introducing the new tax would create an additional source of income for Oman and support the economy, effective measures should be taken to keep the resultant inflation in check, say economic experts. 085010 120010 6 44 MONDAY, / 22 Rajab 1436 AH /timesofoman /timesofoman ISO 9001:2008 Certified Company 67 DIGEST VIDEO SCAN THIS QR CODE TO INSTANTLY LAUNCH THE VIDEO Top stories in one minute with our new daily Digest Will VAT be added to goods in Oman? ELHAM POURMOHAMMADI MUSCAT: Value-added tax (VAT), also known as sales tax, has taken a step towards real- ity in the Gulf, and potentially Oman, after the Gulf Coopera- tion Council offi cials met at the weekend.
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