OMAN: VAT train slowly chugs into the station, but other reforms will have to wait until it has left

GULF COUNTRIES - Report 04 Oct 2019 by Rory Fyfe and Justin Alexander

My visit to Oman hasn’t thrown up many surprises; the economy continues to trundle along, and we are still waiting for the government to deliver on its fiscal reforms. VAT should finally happen in 2021, raising around 1.7% of GDP annually.

While a number of other fiscal reforms are under consideration, none are likely to be implemented in the current socio-economic climate, and the government will assess the impact of the VAT before implementing other major reforms.

If the need to plug a hole emerges in the meantime, the government is likely to turn to asset sales before any of the other fiscal reforms that are on the table.

Now read on...

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