Latest Breaking News On - சர்வேஷ்வார் பியானி - Page 1 : comparemela.com
Crude oil crosses $75 for the first time in two years | Times of Oman
timesofoman.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesofoman.com Daily Mail and Mail on Sunday newspapers.
How to cut your expenses and survive on a lower pay
timesofoman.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesofoman.com Daily Mail and Mail on Sunday newspapers.
By: Times News Service
From a high of OMR17.3bn last year, Oman’s borrowings are expected to decline progressively
Muscat: Oman’s net borrowing is expected to reach zero in 2024, thanks to measures taken to reduce the county’s fiscal deficit and diversify its economy, according to a report by the International Monetary Fund (IMF).
The report was published after a staff visit led by Daniel Kanda, senior economist at the IMF, to assess the plans drawn up by the country to in the light of the economic developments and future outlook owing to the COVID-19 pandemic.
According to the economic indicators published by IMF, Oman’s estimated net borrowings are expected to reach just $0.1bn by 2024.
NRIs will be allowed to set up one-man companies back home
By: Times News Service
Muscat: Non-resident Indians (NRIs) will be able to set up one-person companies back home soon, following the proposal by Union Minister for Finance and Corporate Affairs to incentivise their incorporation into the Indian economy.
Sitharaman was speaking while presenting the Union Budget 2021 on Monday.
The incorporation of OPCs in India will help the NRIs to enter the domestic market, and will also provide them a livelihood once they return home.
Announcing the scheme, the finance minister said, “Incorporation of OPCs will be incentivised by allowing such companies to grow without restriction on paid-up capital and turnover, allowing conversion into any other type of company at any time, reducing the residency limit for an Indian citizen to set up an OPC from 182 days to 120 days, and allow also non-resident Indians to incorporate OPCs in India.”
By: ONA
The third decision specified the type of foodstuff exempted from the VAT. The list consists of 94 customs tariff items to be exempted from the VAT.
Muscat: The Tax Authority on Wednesday issued three executive decisions pertaining to the implementation of the Value Added Tax (VAT), which will enter enforcement stage by April 16, 2021.
The first decision determines the minimum volume of sales requiring the taxpayer to compulsorily register with the Tax Authority. The second relates to deadlines for registration to the Tax Authority while the third decision lists the foodstuff exempted from the VAT (zero VAT payment).
The first decision specified that registration to the Tax Authority becomes compulsory if the taxpayer’s annual sales stand at OMR38,500 or more or are expected to reach this ceiling.
vimarsana © 2020. All Rights Reserved.