Oman has announced plans to introduce a five per cent value-added tax (VAT) in six months' time.
A royal decree has been issued in this regard.
The Oman News Agency stated that the tax will be imposed on most goods and services with some exceptions.
Healthcare, education, financial services, basic foodstuff, and supplies for people with disabilities will not be covered by the VAT.
The latest move is in line with a unified value-added tax agreement signed by GCC members in November 2016.
Pakistan must create 30 million jobs over next decade, World Bank president says
Pakistan must create up to 30 million jobs over the next decade to turn its youth bulge into an economic dividend or risk instability and outward migration, World Bank President Ajay Banga said in an interview with Reuters.
Ghana seeks to deepen strategic investment, innovation ties with UAE
Ghana considers the UAE a strategic partner in its development journey, particularly in economic growth and infrastructure reform, Lydia Lamisi Akanvariba, Minister of State for Public Sector Reform of Ghana, said at the World Governments Summit.
UAE partners with World Economic Forum to fast-track industrial transformation
The UAE has signed a partnership with the Ministry of Industry and Advanced Technology (MoIAT) and the World Economic Forum (WEF), aimed at accelerating the digital and technological transformation of the country’s manufacturing sector.
Creative industries 'key to future growth', WGS-FTI report says
Cultural and creative industries should be treated as a core pillar of national economic strategy, according to a new report launched by FTI Consulting in partnership with the World Governments Summit.
TECOM Group posts strong 2025 results as revenues and profits rise
Dubai-based TECOM Group has reported a strong financial performance for 2025, driven by rising demand across its commercial, industrial and land portfolios.
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has honoured global peacebuilders and humanitarian advocates at the 2026 Zayed Award for Human Fraternity ceremony in Abu Dhabi.
Abu Dhabi's Department of Energy has announced a policy allowing customers to generate their own solar electricity, as part of wider efforts to cut emissions and improve energy efficiency across the emirate.
The second round of trilateral talks between Russia, Ukraine and the United States has begun in Abu Dhabi, as diplomatic efforts continue to advance the political process towards resolving the crisis.
