Oman to impose 50% tax on sweetened drinks

Businesses involved with the import, production, trade, and distribution of sugary drinks are subjected to the new taxation. (File/Reuters)
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Updated 24 September 2020

Oman to impose 50% tax on sweetened drinks

  • The new law coincides with the Unified GCC Agreement on Selective Tax
  • The same tax has been applied in the UAE and Saudi Arabia in 2019

DUBAI: The Oman Tax Authority announced a 50 percent excise tax on sweetened beverages from Oct. 1, national daily Times of Oman has reported.

The new law coincides with the Unified GCC Agreement on Selective Tax which applies to products deemed to be harmful to a person’s health. The UAE and Saudi Arabia have levied the same tax last year.

The Tax Authority said all businesses involved with the import, production, trade, and distribution of sugary drinks are subjected to the new taxation.

The Selective Tax agreement signed by Gulf states fall under a wider deal that aims to standardized the countries’ economic, financial, and monetary policies.


Turkey irked over joint declaration by Cyprus, Greece and Egypt

Updated 23 October 2020

Turkey irked over joint declaration by Cyprus, Greece and Egypt

  • The joint statement also asked Turkey to accept Cyprus’ invitation to enter negotiations for an agreement on maritime delimitations

ISTANBUL: Turkey’s Foreign Ministry on Thursday slammed a joint statement by Greece, Cyprus and Egypt that condemns Turkish energy exploration in the eastern Mediterranean and numerous “provocations” that they maintain are threatening regional peace.
The Foreign Ministry said in a statement that it “fully rejected the declaration containing baseless accusations and allegations.”
During a trilateral regional summit on Wednesday in Nicosia, Cypriot President Nicos Anastasiades, Egyptian President Abdel Fattah El-Sisi and Greek Prime Minister Kyriakos Mitsotakis urged Ankara to end its “aggressive” actions.
The joint statement also asked Turkey to accept Cyprus’ invitation to enter negotiations for an agreement on maritime delimitations. Greece and Cyprus have signed maritime border agreements with Egypt while dismissing a similar deal that Ankara signed with Libya’s Tripoli-based government as “legally invalid.”
The Turkish Foreign Ministry said the declaration attacked Ankara rather than supporting peace and stability in the region. It repeated Turkey’s position that cooperation could only take place with the inclusion of Turkish Cypriots in governing and sharing the resources of the ethnically divided island nation.
“We will continue with determination to protect our rights and the rights of Turkish Cypriots in the eastern Mediterranean,” the ministry statement said.
The trilateral summit took place amid high tensions between nominal NATO allies Greece and Turkey over maritime borders and energy rights.
In late summer, Turkey dispatched a research vessel escorted by warships to conduct seismic research in a part of the Mediterranean Sea that Greece claims as its territory, which prompted the Greek government to deploy its own warships.
Turkey pulled the research ship back to shore for several weeks for maintenance and to allow time for diplomacy but redeployed the Oruc Reis on a new energy exploration mission. A maritime announcement by Turkey says the Oruc Reis and two other ships would continue working in the area until Oct. 27.
Turkey also has had ships prospecting for oil and gas reserves in waters that Cyprus claims as its exclusive economic zone.