#OMAN: Gov't Plans To Implement Value Added Tax By 2021

[world politics news]

Oman’s Finance ministry said its plans to introduce a value-added tax are on track as it works on completing legislation procedures to issue the new tax law..

No date was given for the implementation of the new tax but a document seen by Reuters showed that Oman plans to introduce the VAT in 2021, further delaying a measure that economists say could be politically sensitive at a time of sluggish growth and high unemployment.

[FULL STORY HERE]

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#CHINA: Gov't Cutting Value-Added Taxes In April; Tax Cuts Seek To Spur Economic Growth

[world politics news]

Starting next month, China's massive reduction of value-added tax will take effect, with manufacturing sector VAT dropping by 3% from the current 16%, to lower burdens on enterprises and boost the economy.

The move was first announced by Premier Li Keqiang in his Government Work Report to National People's Congress deputies when the annual session of the top legislature kicked off on March 5. It is expected to cut 2 trillion yuan (US$297 billion) in taxes for more than 30 million enterprises in China.

[FULL STORY HERE]

World Politics News is dedicated to raising Americans' knowledge of political events, elections, and legislation throughout the world.