Oman Awaits Approval of Ambitious Tax, Subsidy Reforms

• Sunday, 27th December 2015
• by Egypt Oil & Gas

Oman’s top advisory body, the Shura Council, has voted for the biggest increase in corporate taxes in many years aimed at offsetting a budget deficit over oil price slump, reported Arabian Business. The Council ...

GCC to Introduce VAT by 2018

• Tuesday, 8th December 2015
• by Egypt Oil & Gas

The Gulf Cooperation Council (GCC) states have agreed to introduce value-added tax in the region by 2018 subject to the signing of a final agreement, the UAE’s Finance Ministry informed, according to Al-Arabiya....

IMF to Help Saudi with Tough Choices, Lagarde

• Wednesday, 11th November 2015
• by Egypt Oil & Gas

The decline in oil prices has increased the importance of reforms to switch the focus of growth from the public sector to the private sector in Saudi Arabia, said Christine Lagarde, managing director of the IMF. Lagar...