Suspension of tax to encourage investors to purchase MSX-listed firms’ shares

Muscat: Haitham Salim Al Salmi, CEO of Muscat Stock Exchange (MSX) has said that the Royal directives of His Majesty Sultan Haitham bin Tarik underscore His Majesty’s keenness on establishing an environment that stimulates foreign investments.

The Royal directives also reflect the policy of openness that the Sultanate of Oman has espoused in dealing with foreign investment, he added.

In a statement to Oman News Agency (ONA), Al Salmi affirmed that besides enhancing the attractiveness of MSX, this step places MSX comfortably on the global investment map and will constitute an incentive to attract more investments to the stock market.

Al Salmi explained that the non-application of tax on dividends and interest will benefit non-resident foreign investors. “Accordingly, the securities listed on the stock exchange will be more attractive to investors, especially since the share prices of most companies are still less than their fair value, as observed by analysts and experts in the financial market,” Al Salmi said.