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MONDAY, May 11, 2015 / 22 Rajab 1436 AH
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Sayyid Fahd to lead Oman’s delegation to US-GCC meet MUSCAT: 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, will lead the Sultanate’s delegation to the US-GCC Summit in Washington, scheduled for May 13 and 14. The leaders will discuss latest developments in the regional and international arenas as well as efforts made to maintain peace and stability. Sayyid Fahd will be accompanied by a delegation comprising Yousuf bin Alawi bin Abdullah, Minister Responsible for Foreign Affairs, Dr Ali bin Masoud Al Sunaidi, Minister of Commerce and Industry, Dr Ahmed bin Mohammed Al Futaisi, Minister of Transport and Communications and Hunaina bint Sultan Al Mughairiyah, ambassador to the US. -ONA
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Will VAT be added to goods in Oman? tion Committee, Kuwait News Agency (KUNA) reported. The agreement will be put into effect once the document of the endorsement is deposited at the GCC Secretariat. Darwish bin Ismail Al Balushi, Minister Responsible for Financial Affairs, represented Oman at the 100th meeting of the GCC Financial and Economic Cooperation Committee. The agreement will be put into effect once the document of the endorsement is deposited at the GCC Secretariat. Commenting on the issue of VAT, Ahmed Al Hooti, a member of the Oman Chamber of Commerce and Industry (OCCI), said introducing VAT is a way to generate additional revenues now that the Gulf countries are facing challenges due to lower global oil prices. >A6
100th
Value-added tax levy will shore up
meeting of the GCC Financial and Economic Cooperation Committee announced the adoption of draft pact on VAT
revenues, check inflation and generate additional income, say experts
ELHAM POURMOHAMMADI
elham@timesofoman.com MUSCAT: Value-added tax (VAT), also known as sales tax, has taken a step towards reality in the Gulf, and potentially Oman, after the Gulf Coopera-
tion Council officials met at the weekend. While introducing the new tax would create an additional source of income for Oman and support the economy, effective measures should be taken to keep the resultant inflation in check, say economic experts. According to the VAT draft agreement recently adopted by
GCC officials, Oman, as well as other member states, should issue a local law to introduce VAT, provided that common principles of the agreement are included. The adoption of the draft agreement was announced by Kuwaiti Minister of Finance Anas Al Saleh, on the sidelines of the 100th meeting of the GCC Financial and Economic Coopera-
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BLESSED ANNIVERSARY
Al Isra’a Wal Miraj holiday on May 17 MUSCAT: Sayyid Khalid bin Hilal bin Saud Al Busaidi, Minister of the Diwan of Royal Court, Chairman of the Civil Service Council, yesterday issued a decision declaring Sunday, Rajab 28, 1436 AH corresponding to May 17, as an official holiday for employees at ministries, public authorities and other departments of the State’s Administrative Apparatus, on the occasion of the blessed anniversary of Al Isra’a Wal Miraj. The decision reads as follows: “On the occasion of the blessed anniversary of Al Isra’a Wal Miraj, it has been decided that Sunday, Rajab 28, 1436 AH corresponding to May 17, 2015 will be an official holiday for employees at ministries, public authorities and other departments of the State’s Administrative Apparatus.” >A6
M E T E O R O L O G I C A L D E PA R T M E N T
Rain forecast in Musandam, Buraimi Staff Reporter
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Oman announces OMR200m debut sovereign sukuk issue TOP THREE INSIDE STORIES
OMAN
OMAN
REGION
Sohar water plant
Visa ban on expats
Houthis accept truce
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Yemen’s dominant Houthi group accepted a five-day humanitarian ceasefire proposed by Saudi Arabia. >A7
PAEW has reported good progress in restarting the water desalination plant in Sohar. >A2
The decision not to issue visas to non-Omani sales and marketing personnel has been extended. >A5
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MUSCAT: Rain is expected in Musandam and Buraimi governorates in the next 48 hours while Saiq in the Ad Dakhiliyah region will be hit by storm, the meteorological department has said in its latest advisory. “Rain can be expected in the coastal areas of Sea of Oman,” the forecast said. The Met office further stated, “There is a possibility of cloud formation over Al Hajar
Mountains and adjoining areas in the afternoon, with chances of isolated rain and occasional thundershowers associated with fresh downdraft wind and hail.” Rough sea “The sea will be moderate to rough along the coastal area of Arabian Sea with maximum wave height of 2.5 metres and along the rest of the coasts it will be 1 metre,” the forecast added. Meanwhile, the meteorologi-
cal department in the United Arab Emirates (UAE) has also predicted rain. The UAE’s forecast stated that clouds will increase gradually with a chance of slight rain especially over the coastal, western and islands areas. Last week, rain and thundershowers had lashed Samail and Rustaq regions of the Sultanate of Oman, giving much-needed relief to residents and citizens from the searing heat.