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The Oman Government has published the VAT law in the official Gazette on 18 October 2020. Oman is the fourth GCC country to implement VAT after KSA, UAE and Bahrain. This law will come into effect 180 days from the date of publication. i.e. 16 April 2021.It is expected that the Executive Regulations to the abovementioned law can be issued by Tax Authority (not cabinet) by December 2020. Considering the timeline of VAT implementation, businesses would have roughly six months to prepare.

VAT in Oman

The Oman Government has published the VAT law in the official Gazette on 18 October 2020. Oman is the fourth GCC country to implement VAT after KSA, UAE and Bahrain. This law will come into effect 180 days from the date of publication. i.e. 16 April 2021.It is expected that the Executive Regulations to the abovementioned law can be issued by Tax Authority (not cabinet) by December 2020. Considering the timeline of VAT implementation, businesses would have roughly six months to prepare.

The Pharmaceutical and Medtech sectors are major sectors of the Indian economy. In FY 2019-20, these sectors contributed 1.5% to the Indian economy providing employment directly and indirectly to over ~3 million people.The Pharmaceutical and Medtech sectors have been growing at double digit rates with the potential to continue to grow at similar rates over the next decade.

Production Linked Incentives - Boost for Manufacturing in Healthcare sector

The Pharmaceutical and Medtech sectors are major sectors of the Indian economy. In FY 2019-20, these sectors contributed 1.5% to the Indian economy providing employment directly and indirectly to over ~3 million people.The Pharmaceutical and Medtech sectors have been growing at double digit rates with the potential to continue to grow at similar rates over the next decade.

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Tax Street October 2020
Tax Street October 2020

We are pleased to present the latest edition of Tax Street – our newsletter.

Highlights of the New Gujarat Industrial Policy 2020
Highlights of the New Gujarat Industrial Policy 2020

In August 2020, the State government of Gujarat announced the New Gujarat Industrial Policy (GIP) 2020.


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