Friday 19 / April / 2024
Muscat: Nearly 500 food products commonly used by people in Oman will be subject to zero taxation under the Value Added Tax, once it comes into effect.
The measure is part of the Social Security Scheme issued by His Majesty Sultan Haitham Bin Tarik, and developed by the Ministry of Commerce, Industry, and Investment Promotion, in association with other government bodies.
VAT is expected to come into effect across the country on April 16.
Under the scheme, the number of basic food commodities charged a zero rate VAT will be increased to 488 from 93.
Furthermore, all VAT charges related to electricity consumption for citizens who have up to two residential category subscriptions will be paid by the government.
This includes families that were previously eligible for government support for the two connections.
The amount of subsidised fuel that people who have signed up for Fuel Support Cards can buy at reduced prices has also been increased from 200 litres to 400 litres per month.
The government will bear the cost of VAT towards the amount of fuel purchased, so that the cost of fuel stays at 180 baisas per litre.
