Latest: Oman hikes taxs on LNG firms
Muscat: In a joint session between the Majlis Al Shura and State council, suggestions to increase the tax on liquified gas from 15 per cent to 55 per cent was approved by the members.
63 percent of the Majlis Al Shura also approved a 35 percent tax increase for non-oil natural resource exports.
Majlis Al Shura also approved the suggestion to raise the tax of petrochemical industries to 35 percent of their total revenue.
Earlier, members of the two councils voted for amendments to the Foreign Investment Capital Law articles 6, 11 and 12.