Tax Forum reviews developments, challenges and modern systems in Oman

MUSCAT : The forum, opened under the patronage of H.E. Nasser bin Khamis Al Jashmi, Chairman of Oman Tax Authority, reviewed current tax developments, challenges, and the adoption of modern tax systems.

Saeed bin Ahmed Al Shanfari, Director-General of the Second General Directorate of Taxation, highlighted the forum’s goal of fostering experience and idea exchange. This exchange aims to improve Oman’s tax system and address taxpayer concerns through internal and external analysis.

Three key working papers were presented during the forum. The first paper explored major updates in tax practices, including global and regional trends, Gulf Cooperation Council initiatives, international commitments, and challenges specific to Oman’s tax system.

The second paper focused on developments in indirect taxes and electronic invoicing. It covered updates on applying indirect taxes across the GCC, value-added tax (VAT) and selective tax updates in Oman, and tax management for taxable entities.

The third paper delved into transfer pricing developments in the Middle East and North Africa region, with a specific focus on Oman. It additionally addressed the fight against tax base erosion and profit shifting (BEPS).

The forum facilitated discussions and proposal exchanges among roughly 300 participants representing major companies operating in Oman. These exchanges aim to leverage modern systems for tax implementation in the future.

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The post Tax Forum reviews developments, challenges and modern systems in Oman appeared first on The Arabian Stories News.

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