Muscat, Oman Chamber of Commerce and

Industry (OCCI) will launch tomorrow “Tuesday” the 1st specialized

seminar which is part of the annual program for Umsiyat ; an initiative

promoted by OCCI BoD 2018-2022.

The seminar will be held under the theme” Value Added Tax, the

reasons, aims and possible effects on economy and development. The

seminar aims at highlighting the government trend to impose value

added tax. The speakers will highlight the importance of

implementation, the pros and cons as well as the socioeconomic

effects on the Sultanate. A number of experts, officials and specialists

will take part at the seminar organized in cooperation with a number of

relevant public and private organizations.

The seminar will host Dr. Saleh bin Said Musin, Head of the

Economic and Financial Committee at Majlis A’Shura and Ahmed al-

Makhini from the Capital Market Authority. The seminar will cover a

number of themes, the most important of which is to know the reasons

that led the government to apply the tax as well as the economic and

social benefits from its application. It will also discuss the special

effects on the final consumer and limited income people. It will also

check readability for its application by various stakeholders (the

government, the private sector and the final consumer).

Abdul Azeem bin Abbas al Bahrani, CEO of OCCI said that the

current OCCI board chaired by Qais bin Mohammed al Yousef adopted

these seminars with an updated vision compared to the previous OCCI

Ramadan Evening. The seminars will be held regularly throughout the

year to discuss the hot issues of the day which affect the business and

economic environment in the Sultanate. The seminars aim at coming

out with novel, practical and implementable solutions for the

challenges facing the Omani economy. They also highlight the possible

effects of such challenges and issues on the growth of national

economy.

He noted that issues to be discussed will be selected carefully and

will highlight the challenges facing businessmen and investors.

Necessary considerations will be given to the peculiarity of the Omani

society and private sector. The Evenings will focus on coming out with

a common vision towards the solutions for the problems facing the

Omani private sector and the possibility of coordination with the

relevant organizations to address this issue.

He added that the Evenings target all those interested in the

business and economic affairs of the Sultanate as well as OCCI

members and the public. The Evenings come within the efforts made

by OCCI to enhance its relationship with its partners and to promote

governance.

Source: Oman News Agency