News

The accountants and auditors need technology-based competence if they want to keep delivering in a digital world. This competence will bring them ethical basis for claiming their leadership roles and responsibilities. See the Publication

Oman’s Personal Data Protection Law will come into effect from February 2023 onwards. Royal Decree 6/22 Promulgating the Personal Data Protection Law (PDPL) was issued on  See the Publication

 

Some years ago, in the business world, nobody cared about the social issues, the environment and, perhaps somehow, a few recognised that governance quality might improve business performance. See the Publication

Cyber Security threats exploit the increased complexity and connectivity of critical infrastructure systems, placing the nation’s security, economy, and public safety and health at risk.  See the Publication

A seminar on Environmental, Social and Governance (ESG) was held at the Crowne Plaza Muscat on Thursday under the auspices of Dr Nasser al Maawali, Under-Secretary of the Ministry of Economy. See the Publication

As the ESG net widens, companies that fail to define ESG-related goals and then deliver on those commitments will lose out to competitors that do. See the Publication

As we wave goodbye to two downbeat years of COVID, Oman SAOGs are now in positive territory, with a general improvement in Y-o-Y profitability, despite a few worrying sectors that are more directly impacted  See the Publication

Indo Gulf & Middle East Chamber of Commerce (INMECC) has announced the formation of its Oman chapter. The announcement was made during a meeting of INMECC delegates with H E Qais al Yousef, Oman’s Minister of Commerce  See the Publication

A delegation from Oman, led by its Commerce, Industry & Investment Promotion minister, Qais bin Mohammed Al Yousef held a meeting with the delegates of Indo Gulf & Middle East Chamber of Commerce (INMECC), at Hotel Oberoi Mumbai on May 13. See the Publication

One of the most significant and perhaps most understated risks that an organisation face today is the risk relating to climate change. Large-scale and catastrophic nature of climate risk affects almost all businesses. See the Publication

Traditional economic wisdom typically predicted a big financial event every 10-20 years but as the world has become global and thus inter-connected, we are now seeing such huge catastrophic events occurring every couple of years.  See the Publication

It is necessary to assess client due diligence to the extent to which a business is exposed to money laundering and terrorist financing risks. See the Publication

Globalisation coupled with e-commerce has let to enormous growth of Multinational Entities around the world which has given rise to bilateral dealings between related entities belonging to such Multinational groups located in difference jurisdictions. See the Publication

As the MSM listed SAOG companies have all now reported their preliminary unaudited 1st quarter 2021 results, we can try and unpick where the Oman economy stands one year after the COVID 19 Pandemic surfaced. See the Publication

Historically, the primary responsibility of a corporation was to provide a reasonable return on investment to its owners and stockholders.  See the Publication

The governments of many countries allow taxable person to register as VAT tax groups. Under this mechanism, more than one company can get a common VAT registration as a VAT tax group under single common control.  See the Publication

Businesses witness many situation where goods are returned or rejected or the supply is cancelled due to various reasons like the goods get damaged, goods with wrong specification are received, excess quantity is received and so on. See the Publication

Businesses incur lot of costs and expenses on day today basis. It is a very common practice to make payments on behalf of the customers and clients as a part of business transaction. See the Publication

As per the article 73 of Executive Regulation, the taxable person can claim the input tax that he incurred for the supply of goods prior to the registration within the period not exceeding 3 years.  See the Publication

Under the VAT regime, taxable persons including business corporates need to be aware of the provisions of the VAT Law that can invite administrative fines and penalties for non-compliance. See the Publication

Taxable Person registered with the Tax Authority must issue a Tax Invoice when making a supply of Goods or Services including a Deemed Supply.  See the Publication

The COVID-19  pandemic struck the hotel occupancy levels of Oman hard until the Government announced resuming of the international flights in October 2020 See the Publication

Value Added Tax implementation date is nearing and there are many queries arising from business houses which need to be addressed. See the Publication

The Sultanate of Oman under its Health Vision 2050 aims at strengthening its healthcare segment by facilitating paramount healthcare services to the citizens of the country. See the Publication

XBRL, “eXtensible Business Reporting Language” is an open standard business reporting platform.  The Capital Market Authority (CMA) in Oman is preparing to launch XBRL portal for uploading the financial reports for the regulated entities. See the Publication

As the MSM-listed SAOG companies have all now reported their preliminary unaudited full year 2020 results, we are able to gauge the financial impact the Covid-19 pandemic is having on the Oman economy. See the Publication

In VAT regime, import of goods will have a difference treatment from import of services. When goods enter the Sultanate of Oman from outside the GCC, whether by land, air or sea, in order to be considered as imported under the Value Added Tax Law, See the Publication

New Year started and Christmas buzz just got over with lots of festive shopping in each household. Almost all the retail outlets and online shopping sites offered huge discounts and promotional offers to buyers.  See the Publication

The shipping and logistics industry in Oman plays a pivotal role in the development of the economy. According to Davis Kallukaran, Managing Partner, Crowe Oman, it’s worthwhile to understand shipping and logistics industry and analyse the VAT implication on the same. See the Publication

GCC VAT framework agreement has given GCC states the option to subject education sector to rate VAT at the zero rate or treat it as exempt. See the Publication

VAT registration begins today under the Executive Decision No. 3/2021. As per the VAT law, any person who resides in the Sultanate and carries out any commercial, industrial, professional or other activity See the Publication

As the world has become increasingly globalised, it is easier for taxpayers to make, hold and manage investments outside their country of residence in locations, commonly known as “tax havens”.  See the Publication

The companies need to focus on three essential aspects to mitigate risks associated with the COVID-19 crisis, all of which can be expedited given the unstable nature of the situation. See the Publication

The COVID-19 pandemic has added a new dimension to a volatile economy and those organizations who were getting by on ‘just fine’, are suddenly feeling the pinch of an abrupt crisis management requirement. See the Publication

The advent of the new decade 2020s has brought in fresh opportunities and challenges to the global business community, especially to the multinational enterprises. See the Publication

Oman’s recent signing of the Base Erosion and Profit shifting (BEPS) multilateral convention introduced by the Organization of Economic Development and Cooperation (OECD), has been described as a significant milestone. See the Publication

Crowe Oman emerged as the champions defeating Deloitte in the Annual Auditor’s Cricket Tournament 2019. KPMG won against EY securing the third place.  See the Publication

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Dr Hamad Bin Salim Al Rawahi, Executive President of the Telecommunication Regulatory Authority inaugurated the Association of Certified Fraud Examiners (ACFE) seminar on 'Operations & Cyber Security Risks'. See the Publication

‘Gear up, plan ahead and simplify VAT’ was the theme of a tax workshop organised by Crowe Mak Ghazali, at the Crowne Plaza Muscat recently. See the Publication

Business models are undergoing rapid transformation ever since the world stepped into the digital revolution and artificial intelligence (AI), block chain, machine learning and crypto-currency are no longer fancy terminologies but the future of business, See the Publication

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Concerns about making the best technology judgments are not unique. Many IT-related decisions are made or delayed based on fear and a lack of time and understanding.