Business Studies - Accounting Section visited Sultan Qaboos University with the students of Taxation Accounting on 20th March 2019. Ten (10) students were accompanied by Ms. Eman Al Hinai and the course tutor Ms. Sameena Begum.
The main objective of this visit is to give an insight of taxation rules in Sultanate of Oman. The visit started with a presentation by various presenters from Ernst and Young.
Mr. Mitul Patel briefed about the implementation VAT in UAE and Saudi. He enlightened students with the Oman Vision 2040 and development in tax laws, regulation and tax practices.
Other presenters focused on the excise tax update and GCC readiness in implementation of VAT. The area with high significance was Introduction of VAT, VAT mechanism and rates and exemptions.
Mr. Mitul also highlighted with GCC VAT treatment – education sector and VAT implementation challenges.
The purpose of visit was successfully achieved on the basis of positive feedback from students as they found it very interesting and informative.