Oman Wires It's all about Oman
Oman has followed in the footsteps of Saudi Arabia, UAE, Bahrain and Qatar in imposing a selective tax, dubbed as ‘sin tax’ on goods and beverages, observed to have a level of harm connected with their consumption.
The Royal Decree 23/2019 on the Selective Tax Law was issued on Wednesday.
With its implementation, that will come into impact 90 days from the date of issuance of the Royal Decree, costs of tobacco items, alcoholic beverages and power drinks will double as it will attract an excise tax of 100 per cent, although tax will go up by 50 per cent on fizzy drinks.
The law comes as a outcome of the GCC framework on ‘Unified Selective Excise Tax’, which was issued in 2016. The law was reviewed and endorsed by the Majlis A’Shura and the State Council at the finish of 2018, though it was very first unveiled in Oman’s 2017 price range.
A statement from the Governmental Communication Center (GCC) on the law stated that selective taxation seeks to attain a set of objectives which includes supporting healthful way of life, controlling consumption pattern of such goods and producing further resource for public finances.
GCC also stated that raising the costs of goods beneath the Selective Tax just before it comes into impact is an offence. “Any violation can be reported to the Public Authority for Consumer Protection via the hotline (80079009 or 80077997).”
Information Source: Muscat Daily
