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Ministry of Finance

Ministry of Finance latest

Oman’s total revenue in 2018 equalled OMR10.949 billion in 2018, while the total expenditure - how much the state has spent during the year - totalled OMR 13.599 billion.
September 23rd, 2019 - 11:46 GMT

Corporate Income Tax Collection Soars in Oman

Oman collected almost OMR100 million more in corporate income tax in 2018 than it did in 2017, according to the country’s final accounts report for last year. {"preview_thumbnail":"https://cdn.flowplayer.com/6684a05f-6468-4ecd-87d5-a748773282a3/i/v-i-0…","video_id":"0f1dfe4b-ef8a-48b8-9604-07009c97ae63","player_id":"8ca46225-42a2-4245-9c20-7850ae937431","provider":"flowplayer","video":"The Worst 10 Destinations for Expats"} The report, which was released in a ministerial decision from the Ministry of Finance yesterday, showed that Oman had collected OMR 463,112,782 in corporate income tax in 2018, compared to 366,487165 in 2017 and 388,634,659 in 2017 ...
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The new tax came into force on Saturday. (AFP/ File)
July 3rd, 2017 - 10:43 GMT

Saudi Arabia's Residents Feel the Pinch of New Expat Tax

Saudi Arabia has plans for a free economic zone in Jeddah. (JEC)
June 14th, 2017 - 06:00 GMT

Saudi Arabia to Launch a New Free Economic Zone in Jeddah

The wholly government-owned, Saudi Arabian Military Industries (SAMI) aims to become one of the world’s top 25 defense companies by 2030. (Shutterstock)
May 18th, 2017 - 09:30 GMT

Saudi Arabia Says New Military Company Will Boost Its Economy: Here's How

Buildings hit by Saudi air strikes in old neighbourhood of Sanaa in March (AFP)
May 13th, 2017 - 05:00 GMT

$70 Billion Needed for Yemen's Reconstruction, Development

Tunisia’s Prime Minister Youssef Chahed. (AFP)
May 11th, 2017 - 08:27 GMT

Tunisia Closer to First Sukuk Issuance: Nasdaq Dubai

An Egyptian man loads gas cylinders onto a truck to be refilled at a warehouse in Cairo, Egypt, on September 11, 2016. (AFP/ File)
May 4th, 2017 - 04:00 GMT

'Egypt Will Achieve Gas Self-Sufficiency by 2018, Surplus by 2020,' Says Minister

The cost of living certainly is going to go up with the introduction of VAT in the GCC, so you have to get ready. (Pixabay)
April 26th, 2017 - 10:56 GMT

Why you need to ask for a pay raise before VAT launch in GCC

Tunisian protesters hold placards and shout slogans during a protest against a controversial draft law on amnesty for corruption offences in the capital Tunis on Sept. 12, 2015. (AFP)
April 23rd, 2017 - 03:00 GMT

Tunisia TV channel linked to President: 'Insult, defame' anti-corruption watchdog

Since the 25 January Revolution, Egypt's economy encountered many challenges, from political unrest and declining tourism to currency fluctuations and fuel shortages. (AFP/Khaled Desouki)
April 18th, 2017 - 01:34 GMT

Egypt's car sales drop 40 percent

The introduction of a value-added tax in the GCC region may see inflation soar by as much as 1.4 per cent, but it is expected to generate $25 billion in annual tax revenue. (Pixabay)
April 18th, 2017 - 11:36 GMT

How will GCC's VAT rules impact commodities?

Statistics show a 2.4 billion dinars ($1.7 billion) financial black hole in Libya's oil revenues which has yet to explained. (AFP/File)
April 16th, 2017 - 12:30 GMT

Where did Libya's oil money go?

The clock is ticking but 69 percent of GCC businesses may still not be prepared for VAT introduction in January 2018. (Pixabay)
April 16th, 2017 - 08:07 GMT

69 percent of GCC businesses still not prepared for VAT: Report

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