MUSCAT: A seminar hosted by EY discussed the significance of tax revenue after falling oil prices on the current economic climate of Oman.
The breakfast briefing session on the ‘Growing Significance of Tax’ was organized at Grand Hyatt Muscat.
The conference was attended by over 100 senior executives representing large businesses in Oman, and multinationals from the US, Europe, South Korea, Japan, China and several other countries.
Ahmed al Esry, office managing partner and tax partner at EY Oman, spoke about the changes to Oman’s macroeconomic landscape, and the effects these have on the evolving tax laws in the country.
H said, “With oil price being at a much lower level than it was over the past few years, economic diversification and reduction in oil dependence will have to be actively pursued. The government has nevertheless communicated its resolve to ensure that ongoing projects in the country will not be affected, announcing its biggest ever budget-spend for 2015.”
