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Oman waives licensing fees for crowdfunding operators for next two years

Landmark gesture: The move is aimed at stimulating the economic recovery, spurring various types of crowdfunding platforms, attracting local and foreign investors, supporting SMEs and entrepreneurs, and enhancing GDP growthBUSINESS REPORTERMUSCAT, NOV 22New rules governing the operation of crowdfunding platforms in the Sultanate of Oman are now in force,.

Sultanate of omanAl salmiAbdullah salim al salmiAl habsiCapital market authorityExecutive presidentExecutive regulationCapital market lawOfficial gazetteCrowdfunding platformsDonation crowdfundingReward crowdfundingEquity crowdfundingSultan salim said al habsi

Tax amendment aims to avoid VAT double taxation

The Federal Tax Authority (FTA) has confirmed the importance of Cabinet Decision No. (88) of 2021 to amend Article 51 of Cabinet Decision No.

Tax authorityAuthority public clarificationFederal tax authorityCabinet decisionExecutive regulationFederal decree lawValue added taxDesignated zonesPublic clarificationDesignated zoneQualifying goodsExecutive regulationsValue added

Changes in tax rules for supply of goods in designated zone come into effect

The amendment allows tax registrants to avoid VAT double taxation

Gulf newsUnited arab emiratesAbu dhabiTax authorityAuthority public clarificationFederal tax lawImage creditCabinet decisionExecutive regulationFederal decree lawValue added taxDesignated zonesFederal tax authorityPublic clarificationDesignated zoneQualifying goods

FTA ameds law to avoid double VAT taxation on supply of goods in designated zones

New law has come into effect as of October 30,2021

United arab emiratesTax authorityFederal tax authorityCabinet decisionExecutive regulationFederal decree lawPublic clarificationDesignated zoneFree zones

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