Even though an increase in the VAT seems the most viable option, higher levels of public buy-in could be secured through greater transparency in fiscal policy.
If Omanis aren’t ready to shoulder a 5% VAT, then they have a long, bumpy economic road ahead of them.
Despite beginning as a regional policy, the VAT in the Gulf is becoming an increasingly country-focused initiative.
Government efforts to legalize full foreign ownership in specific sectors aim to significantly boost inward foreign investments. However, the commercial reform threatens to disrupt the long-standing economic institutions and commercial incentives associated with free zones.
Through its careful examination of the forces shaping the evolution of Gulf societies and the new generation of emerging leaders, AGSIW facilitates a richer understanding of the role the countries in this key geostrategic region can be expected to play in the 21st century.Learn More