One of the most compelling reasons for parents to pursue the EB-5 program is the unparalleled education opportunities available in the US for their children
The tax will be on most goods and services, though with some exceptions, according to a video presentation shown on Oman TV.
All six Gulf Arab states agreed to introduce 5 per cent VAT in 2018. Saudi Arabia, the UAE and Bahrain have already introduced the tax, with Riyadh tripling it this year.
Oman, Kuwait and Qatar have not yet introduced the tax.
"The introduction of VAT is another important and positive sign to the market that Oman is looking to progress with a much needed fiscal reform programme after announcing spending cuts this year," said Monica Malik, chief economist at Abu Dhabi Commercial Bank.
Facing a 2.8 per cent economic contraction this year and a government deficit of 16.9 per cent of gross domestic product (GDP), according to the International Monetary Fund, Oman has cut public spending to contain the financial leakage caused by lower oil prices and the downturn caused by coronavirus lockdowns.
One of the most compelling reasons for parents to pursue the EB-5 program is the unparalleled education opportunities available in the US for their children
Gold jewellers foresee higher footfall during the Indian festival
Investors looked towards a US Federal Reserve Policy decision that could offer for more cues regarding its interest rate cuts policy
Around nine schools have received bomb threats so far, according to a Delhi Fire official; search operations underway
Demonstrators had vowed they would fight any eviction as they protested the soaring death toll from Israel's war with Hamas in the Gaza Strip
The vast archipelago nation, experiences frequent seismic and volcanic activity due to its position on the Pacific 'Ring of Fire'
The issue is seen as a potential vote winner for Biden as he faces Republican Donald Trump in a tough election rematch this November
Chance of light to moderate rain over Islands and some eastern and western areas