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India–Oman FTA Poised to Transform Bilateral Trade: Goyal Highlights New Opportunities as Investments Cross USD 5 Billion

India and Oman are preparing to elevate their long‑standing economic partnership through a forthcoming Free Trade Agreement (FTA) that both sides...

ICAI Sets Stage for GCC Summit 2025 with Top Industry Leaders, Policy Experts and Global Finance...

Oman’s Tax Landscape: Income Tax, Business Impact, and Global Ties

Oman to Introduce Personal Income Tax in 2028,First in GCC

Qatar National Vision 2030 and Viksit Bharat 2047: India and Qatar enter into MoUs to Boost Trade,...

Do the GCC Countries impose Personal Income Tax on their Residents?

1. What led to the tax reforms in GCC countries? A: Due to the unpredictable rates on oil and gas the GCC came up with the idea of tax reforms. However, as they aim to diversify their...

GCC - income tax gulf countries - economic diversification strategies - Taxscan

No Denial of GST ITC on Interest-Free Advance Receipts: Bombay HC in L&T, IHI Consortium Case [Read Order]

The Bombay High Court has held that Goods and Services Tax (GST) Input Tax Credit (ITC) cannot be denied on advance receipts. The petitioner is an unincorporated consortium of two entities,...

Oman might be the First GCC Country to impose Personal Income Tax

Oman is set to break new ground within the GCC by considering the implementation of a personal income tax targeting high-earning individuals, both citizens and expatriates. Currently, no personal...

25% of Licence Fee paid by SET to GCC is fair estimate: ITAT clarifies Taxability on Sum received from ICC events in India [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) clarified the taxability of the sum received from ICC events in India and held that 25% of the Licence Fee paid by SET Satellite...

Oman to Exclude VAT from 2020 Budget

The Oman’s Ministry of Finance has affirmed the exclude of Value Added Tax (VAT) as revenue from the 2020 budget. It was also stated that the VAT regime will not be introduced until 2021. Oman was...

Saudi VAT: House Rent and Government Services are Exempted, says Govt

The Saudi Government, vide its Official twitter account, has clarified that no Value Added Tax (VAT) would be levied on the house rent and Government services in Saudi Arabia. Some of the...