MUSCAT: The Omani-US Centre, in collaboration with Crowe Horwath International will organise a seminar titled “10 Tips You Need to Know about the New Taxes in Oman” on Wednesday at Centara Muscat Hotel.The seminar will discuss the latest amendments made to the Omani income tax laws.Davis Kallukaran, Managing Partner of Horwath MAK Ghazali, one of the.
The need for a capital goods scheme under VAT SHARE
Dr Robert brederode -
As a consequence of the distinction in value-added tax (VAT) between taxable and exempt supplies, a problem arises when the use of capital assets fluctuates over time.
Contrary to the general practice for income tax, capital inputs are expensed under a VAT to ensure neutrality as regards the choice between capital and labour or investment and consumption.
That would mean that the initial use of a capital good, exempt or taxable, would determine whether and to what extent the VAT paid on the purchase of the good is recoverable.
Reseller News
Join Reseller News
Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.Sign up now
Datacom appoints South Island head, fleshes out cloud talent
Azure and AWS cloud expertise both bolstered
Tracy McElroy (Datacom) Credit: Supplied
Tracy McElroy is moving to Datacom as the IT service provider s new head of South Island as the IT service provider also makes key cloud appointments.
McElroy joins the company in mid February from Deloitte where she was a director in the Christchurch practice, responsible for leading the people transformation and organisational change component of the major enterprise resource planning (ERP) implementation programme at Alliance Group.