MoCIIP issues decision on CSR budgets in Oman

Muscat: The Ministry of Commerce, Industry and Investment Promotion has issued a decision to deduct 20 per cent of the budgets of institutions and companies allocated to social responsibility programs, for the benefit of the Omani organisations for Charitable Activities.

His Excellency Qais bin Mohammed bin Moosa Al Yousef, Minister of Commerce, Industry and Investment Promotion has issued a Ministerial decision No. 205/2021 to deduct a percentage from the budget of the institution or company allocated to social responsibility programs, for the benefit of the Omani Authority for Charitable Activities. The decision comes as follows:

Article one stated that Institutions and companies must deduct no less than 20 per cent of their budget allocated to social responsibility programs for the benefit of the Omani Organisations for Charitable Activities.