Economy
Royal decrees issued to set up Tax Institution, two new ministries
His Majesty Sultan Qaboos bin Said on Monday issued ten Royal Decrees, which include the establishment of an institution to be named ‘Tax Institution with its own legal identity. It will also enjoy financial and administrative autonomy.
Two new ministries – the Ministry of Technology and Communications and a Ministry of Arts Affairs – have also been set up as per the Royal Decrees issued on Monday.
According to the Royal Decree 66/2019, the new Tax Institution shall report to the Council of Ministers. According to Article 2, a Royal Decree shall issue the Bylaw of the Tax Institution and that it shall approve its organisational structure, while Article 3 transfers to the Tax Institution all the specialisations, powers, prerogatives, allocations and assets of the Secretariat General of Taxes at the Ministry of Finance.
Another Royal Decree 70/2019 appoints Sultan bin Salim bin Said al Habsi (Deputy Chairman of Board of Governors of the Central Bank of Oman) as Head of the Tax Institution, along with his current grade and financial allocations. The Royal Decree also states that the Head of the Tax Institution shall be a member of the Financial Affairs and Energy Resources Council and transfers employees of the Secretariat General of Taxes at the Ministry of Finance, along with their existing job status and financial allocations to the new Tax Institution.
https://www.businessliveme.com/economy/ict-omans-new-economic-sector/
Two new Ministries
As per the Royal Decree, the Ministry of Technology and Communications will replace the Information Technology Authority (ITA) and will take charge of the telecom policies and legislations at the Ministry of Transport and Communications. It will also be in charge of the technology programmes affiliated to the technical committee tasked with localising the Fourth Industrial Revolution techniques at the Ministry of Foreign Affairs. From now on,
The Ministry of Transport and Communications will now be known as simply the Ministry of Transport.
As far as the new Ministry of Arts Affairs is concerned, the Royal Decree states that the Directorate General of Arts Affairs (Ministry of Heritage and Culture), Oman Society for Fine Arts, Oman Lute Amateur Society and Oman Photographic Association, affiliated to the Sultan Qaboos Higher Centre for Culture and Sciences, will be transferred across to the new Ministry of Arts Affairs.
All the decrees shall be published in the Official Gazette and enforced with effect from their date of issue.
-
Oil & Gas2 months ago
Oman Oil Exports Exceed 135.3m Barrels by End of June 2024
-
Commodities2 weeks ago
Gold Rangebound as Investors Brace for Key US Economic Data
-
Banking & Finance3 weeks ago
Apple Pay Officially Launched in Oman
-
OERLive TV1 month ago
H.E. Salim Al Aufi, Minister of Energy & Minerals talks about Oman’s Green Hydrogen Goals
-
Investment2 weeks ago
With Over RO600M in Foreign Investments, Future Fund Oman Unveils the First Batch of Investment Projects with an Overall Value of RO830M+
-
Uncategorized1 week ago
Oman Oil Marketing Company partners with Ihsaan Association to support its activities
-
Lifestyle2 weeks ago
Royal Opera House Muscat Welcomes First Shows of its 2024/25 Season
-
Economy3 weeks ago
Trade Exchange Between Oman & KSA Exceed RO1.014B