WEDNESDAY June 1, 2016 25 Sha’aban 1437 AH
SAYYID FAHD TAKES PART IN JEDDAH SUMMIT
FROM THE WORDS OF HIS MAJESTY THE SULTAN
‘His Majesty’s Wisdom’
On behalf of His Majesty Sultan Qaboos bin Said, His Highness Sayyid Fahd bin Mahmoud Al Said, Deputy Prime Minister for the Council of Ministers took part in the 16th Consultative Summit of the GCC Leaders. >A7
Founded 1975 . Volume 41 No. 86
On the occasion of the 7th National Day, 1977
In addition to our oil resources, which are still in course of development, the development of the Sultanate’s rich copper deposits has now reached the stage where we shall be producing 20,000 tons of high-grade copper a year by 1980.
| 40 Pages . Baisas 200 . Subscription OMR63 | ISO 9001:2008 Certified Company | Chairman/Editor-in-Chief: Mohamed Issa Al Zadjali | Printed & Published by Muscat Media Group
NOWHERE TO HIDE FOR TAX DODGERS
T E AC H E R S ‘ PA M P E R E D ’
Shura member regrets remark Times News Service MUSCAT: A Shura member who earlier described Omani teachers as “pampered” has apologised, saying that he was talking about extending the academic year and did not mean to offend teachers. Tawfiq Al Lawati thanked teachers for their efforts and said what was discussed during the session were theories that can be proven right or wrong. Al Lawati was referring to the number of holidays teachers take
off from work each year. This was discussed during the second session at Majlis Al Shura, which hosted Dr Madiha bint Ahmed Al Shibaniyah, Minister for Education. After heavy criticism on social media about Al Lawati’s statement, teachers also denounced his comments, saying it was “inappropriate”. A teacher of a government school in Muscat said Al Lawati’s statement was inappropriate and teachers “deserve to be respected”. >A7
MORNING MINUTE
D E R E G U L AT I O N O F P R I C E S
Oman hikes fuel prices by 50 per cent in five months REJIMON K
reji@timesofoman.com MUSCAT: Consumers will have to pay around 50 per cent per litre extra for regular petrol this month compared to the price before regulation on fuel was lifted in January. Prior to the government lifting the regulation, the price of regular petrol in Oman was 114 baisas, while for super grade it was 120 baisas, and for diesel it was 146 baisas. Now, just five months later, consumers have to pay around 49 per cent extra per litre of regular petrol, 50 per cent extra for super grade, and 26 per cent extra for diesel. Oman had deregulated its
Officials will investigate firms which are currently not paying corporate taxes in Oman Tawfiq Al Lawati, the Shura member. REJIMON K
reji@timesofoman.com MUSCAT: An “army of officers” will help fill government coffers with as much as OMR250 million when the new corporate tax increase is implemented, a Majlis Al Shura member said. In a joint session last Thursday, the State Council and Majlis Al Shura voted to substantially raise Oman’s 12 per cent corporate tax rate to 15 per cent. “By increasing the tax, the government will be able to earn money ranging between OMR125m and
OMR250,” Tawfiq Al Lawati, the Shura member, told Times of Oman. The ‘army’ will help enforce collection. According to the Shura member, only 4,000 of 20,000 registered Omani companies pay tax. “An army of officers will be deployed to collect tax from companies in Oman when the new tax is implemented,” Tawfiq, who is also heading a Sultanate panel to study austerity measures to cushion the effects of the economic crisis, said. “The officials will do random checking to find the violators. Vio-
lators will be penalised in terms of non-renewal of contracts, issuance of job visas and all,” Tawfiq added. Last year, until November, the corporate income tax collected in Oman was OMR427.5 million, which was a 4.5 per cent increase compared to the same period in 2014. In December last year, the Shura voted ‘yes’ to a 3 per cent increase in corporate income tax, removing the tax free ceiling of OMR30,000 for companies and bringing all companies under taxation regardless of their grade. However, as the State Council had some reservations, the proposal was discussed in the joint meeting last Thursday. Saleh bin Said Masan, Head of the Economic and Financial Committee in Shura, said that small and medium enterprises, having a capital investment up to OMR50,000 and turnover up to OMR100,000 will have to pay only 3 per cent tax if they meet certain other conditions. “The conditions are connected to Omanisation,” the economy committee head said. >A7
TOP THREE INSIDE STORIES
OMAN
Hiring maids
1
Hiring housemaids on a temporary basis to meet Ramadan demands is illegal, said a senior official. >A3
OMAN
‘Close ties with Oman’
2
The US envoy assured Omanis that Americans will continue to have close ties with them. >A5
INDIA
Arms depot fire
3
A huge fire swept through one of India’s biggest ammunition depots, triggering explosions. >A10
Picturesque places of Oman
A6
FUEL PRICE RISE (In Baisas per litre) Regular 137 F
170 145
Super 153
149
180 158
161
185
Diesel 163
145
166
146 146
130 M
A
M
J
F
M
Source: Tahir Al Junaibi , Times of Oman
oil prices on January 15 this year as part of the austerity measures aimed at plugging the deficit. In June, the price of revised regular petrol (M90) will be 170 baisas per litre, super graded (M95) will be 180 baisas, and diesel will be 185 baisas, according to a notice uploaded by the ministry
A
M
J
F
M
A
M
J
Graphics
on its official twitter handle. On January 15, the price of super unleaded petrol was revised from 120 baisas to 160 baisas per litre. For regular it was raised from 114 baisas to 140 baisas per litre and for diesel, it was made raised to 160 baisas from 146 baisas per litre. >A6