Oman - VAT Cost Added
Finance analysts have warned that some rogue traders have already begun passing on VAT charges to customers in Oman.
This comes after a section of shopkeepers in Oman raised the costs of commodities imported from the UAE and Saudi Arabia, which both introduced a VAT regime on January 1st 2018.
The traders are factoring in the cost of VAT into the prices of goods they bought from counterparts in both of Oman’s neighbours, despite a pan-Gulf Cooperation Council (GCC) agreement that prices in non-VAT paying nations must not be changed.
This means that although VAT is not to be introduced in Oman until 2019, residents and citizens in the country are already feeling the effects in their day-to-day spending.
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