Global Macro Service > Research Briefings > MENA
Today, Oman becomes the fourth country in the Gulf Cooperation Council (GCC) to introduce Value-Added Tax (VAT). Our calculations show the 5% tax will yield around 1.5% of non-oil GDP in budget revenue annually in 2021-22, helping to lower the budget deficit to 6.5% of GDP this year from 19.6% in 2020.
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