Non-oil Income for Oman Government to Get a Boost by the Arrival of VAT

Next year, with the expected introduction of value added tax, Oman is set to get a boost in its future non-oil revenue. Interestingly, for foreign investors Oman still remains as an attractive destination.

Positive signal for households and enterprises and reduction of uncertainty to a great extent  has resulted from the dependence on debts from foreign markets while demonstrating the confidence of global investors in the prospects of the Omani economy as per the words of renowned economists.

In 2016, by the reduction of the fuel subsidies, the annual inflation was pushed up but however it was nothing short of a moderate temporary effect that is reducing gradually.