Value Added Tax vision paper of Economic and Financial Committee approved by Majlis Al Shura in Oman

Muscat: A vision paper of the Economic and Financial Committee on the draft standard GCC agreement for the GCC Value Added Tax (VAT) and excise tax was approved by the Majlis Al Shura on Wednesday.
The approval came during the Majlis Al Shura’s third regular session of the third annual sitting 2017/2018 of the 8th term 2015/2019 held under the chair of Khalid bin Hilal Al Ma’awali, Chairman of Majlis Al Shura.
Majlis Al Shura also approved the work plans for the permanent committees for the third annual sitting namely the legislative and legal committee, the economic and financial committee, health and environment committee, education and scientific research committee, services and social development committee, human resources and youths committee and food and water security committee.
The Media and Culture Committee will also continue considering the issue of Oman cultural channel and its role in showcasing the cultural product of the Sultanate and investment in heritage sites in the Sultanate. It was also briefed on the draft budget of the state for 2018 , the draft commercial companies law, as well as the conventions referred to Majlis from the Council of Ministers, such as the International Convention on Civil Liability for Bunker Oil Pollution Damage (BUNKER)2001, International Convention on the Control of Harmful Anti-fouling Systems on Ships 2001.