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Oman’s launch of the National Payment Card
Oman’s launch of the Maal National Payment Card marks a transformative step in its digital financial infrastructure—strengthening investor confidence, enhancing resident convenience, and aligning with GCC-wide modernization goals. Oman has officially introduced the Maal National Payment Card, a strategic initiative aimed at boosting digital payments and reducing reliance on cash transactions. This move is part…
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Misuse of Investor Residency
The State Financial and Administrative Audit Authority (SAI) of Oman published its 2024 Annual Report, highlighting irregularities in government units and investment-related entities. Key findings include: Regulatory Actions Taken To curb abuse and strengthen oversight, the following measures were introduced: Implications for New and Existing Companies For New Companies: For Existing Companies: Strategic Outlook These…
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ESG in Oman: A Comprehensive Overview
Environmental, Social, and Governance (ESG) principles are becoming a cornerstone of sustainable development in Oman. With the nation’s commitment to Oman Vision 2040, ESG practices are being integrated into corporate strategies to ensure long-term economic resilience and environmental stewardship. The Muscat Stock Exchange (MSX) has taken significant strides in promoting ESG reporting, aligning with global…
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Audit firms in Oman to follow international standards
The Executive President of the Financial Services Authority (FSA) in Oman has issued a circular to accounting and audit firms, emphasizing the importance of adhering to international auditing standards. The circular mandates that audit reports must be signed by the owner, a partner, or a duly authorized manager, as per the law regulating the accounting…
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Corporate Income Tax (CIT) Oman
Source: (1) tradecouncil.org (2) taxsummaries.pwc.com (3) expatfocus.com (4) Images by FreePik
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Value Added Tax (VAT) Oman
The Sultanate of Oman implemented VAT on 16th April 2021 following Royal Decree no. 121/2020. Here are the key points: Source: (1) cleartax.com (2) Images by FreePik
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Announcement
Announcement: Issuance of License for AZ & Chartered Accountants We are thrilled to announce that AZ & Chartered Accountants, a business under Abdullah Zeeshan Enterprises, has been granted its official license as Financial Consultancy firm in the Sultanate of Oman. Our comprehensive suite of services includes: Taxation: Expert guidance on tax planning, optimization, and compliance.…
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Personal Income Tax (PIT) Oman
Certainly! The issue of imposing personal income tax in Oman is not new; it was initially raised in 2020 as part of the country’s economic development plan for 2020-2024. Although a decision to implement this tax was anticipated in 2022, it was postponed due to the pandemic. Now, there is renewed talk of imminent action,…
About Us
We are a registered Financial Consultancy firm in the Sultanate of Oman, comprising a team of finance professionals with extensive experience in their respective fields and a deep understanding of the Omani market and other jurisdictions.