The government of President Nana Akufo-Addo assumed power on a promise to take “Ghana Beyond Aid”, and is pushing ahead with initiatives to formalise the economy, diversify its manufacturing base and overhaul its taxation structure. Ghana’s ability to retain fiscal discipline will be tested, with election-related expenditure expected to increase in the run-up to the 2020 poll.
The year 2020 marks the 50th anniversary of the establishment of the Sultanate of Oman, making it the longest continually independent Arab country in modern history. The year also marks the passing of Sultan Qaboos bin Said Al Said, who died on 10 January. He is succeeded by his cousin and the former minister of culture, Sultan Haitham bin Tariq Al Said.
The year 2019 saw several legislative changes in Oman aimed at encouraging business growth and diversification of the economy, which has so far relied heavily on the hydrocarbons industry. I would like to outline the major changes to the legal framework and the potential positive impact on Oman’s investment climate.
Articles & Analysis | Regulatory changes increase attractiveness for foreign investment in Oman from The Report: Oman 2020
Prior to 1971 the Sharia Courts had jurisdiction over all civil and criminal matters, as well as personal status matters in the sultanate of Oman. However, after the succession of Sultan Qaboos bin Said Al Said, the judicial system was reformed in the sultanate, and Sharia Courts currently only govern matters relating to family disputes and...
Articles & Analysis | By the numbers: The system continues to adjust to changes in the tax code from The Report: Oman 2020
Taxation in Oman is the responsibility of the Ministry of Finance (MoF) and the Secretariat General for Taxation. The framework is mainly governed by the following laws: