Muscat: KPMG Oman is advising the Ministry of Finance on preparing a draft law on value added tax.
“It is an ongoing process. We have prepared the draft law, executive regulations, policy decisions to be taken and other aspects for consideration. They will ask us to make some changes,” said Ashok Hariharan, Partner and Head of Tax for KPMG in the Lower Gulf.
The Ministry of Finance has to review the recommendations for the draft law and have to forward the same to Ministry of Legal Affairs and Council of Ministers.
Hariharan also said that KPMG has been advising the government on VAT regulation for quite sometime.