Oman will provide additional tax breaks to cushion the impact of its coming value-added tax, the official Oman News Agency reported Thursday.
The sultanate is increasing the number of foods classified as zero-rated for VAT purposes to 488 from 93. It will also bear the cost of VAT imposed on residential water and electricity supplies, the report said.
The Gulf state will also subsidize the cost of up to 400 liters of motor fuel per month to maintain the subsidized price of 0.18 Omani rial ($0.47) per liter for low-income individuals.
Oman is introducing a 5% value-added tax on...