34 C
Kuwait City
October 18, 2019
Home » Oman Plans To Implement Tax On Sugar And Fast Food
Gulf Insider

Oman Plans To Implement Tax On Sugar And Fast Food

Oman’s Ministry of Health has proposed plans to implement a tax on sugar and fast food, a top ministry official has said.

Al Hinai expected that levying taxes on sugar and fast food is expected to generate OMR80 million to OMR100 million annually with an expected return of 8%, the figure is expected to be between OMR10.2 billion in 10 years.

In June, Oman revised the imposed excise tax on alcohol to a total of 50% instead of 100% for a period of six months, according to the Ministry of Finance.

The General Secretariat of Taxes started applying the selective tax for goods on 15th June, as stipulated in Royal Decree (23/2019) granting 90 days of the law to apply the tax.

The selective tax on tobacco and its derivatives, energy drinks, alcoholic beverages and pork was 100%, while taxes on carbonated beverages were applied to the tune of 50%, based on the retail price.

The post Oman Plans To Implement Tax On Sugar And Fast Food appeared first on Gulf Insider.

Source link
Click here to read more news from @gulf-insider

Related posts

Bahrain: Duo Involved In Supermarket Robbery Spree Sentenced To Three Years


Saudi: High Alert As Freak Sandstorm Hits Jeddah


Bad News for Saudi Economy, says IMF


This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Please spend a minute

Gulflance Poll

Which is worst social media?
Vote Now
Sign-up for exclusive content. Be up to date with Gulflance

You're currently offline