Muscat: Oman set to start 50% tax on Sugary drinks starting from Today, Thursday.
According to the tax authority, sweetened drinks are defined as “any beverages that contain sugar or any of its derivatives or any other sweeteners.
Sweetened drinks are any concentrates, powders, gels, or preparations that can be converted into sweetened drinks.
” Where juices, fruit drinks, energy/sport drinks, canned coffee and tea products are classified as sweetened drinks subject to tax, while the list excludes some products such as 100% natural fruit and vegetable juices, and milk and dairy products when they contain no less than 75% of milk, and supplements. Food, and beverages intended for special nutritional and medicinal uses.
The application of the Excise Tax on sweetened drinks comes within the framework of the unified agreement for the excise tax of the countries of the Cooperation Council. Some GCC countries preceded the Sultanate in applying selective tax on these products.
In accordance with the provisions of Article (15) of the Excise Tax Law, everyone who carries out an activity related to taxable sweetened drinks (such as import, production, trade or distribution) must submit a notification of the balance (stock) of these goods on the day before the tax is applied. That is, the stock at the end of September 30, 2020), provided that this notification is submitted within 15 days of the date of being subject to tax, through the online portal of the tax authority.
The agency emphasized the necessity for importers of goods subject to excise tax (including sweetened drinks) to verify the presence of the products they import on the taxable products list on the tax authority’s online portal. Where they must submit a request to add an excise commodity through the electronic portal of the device before the start of the import of those goods in sufficient time (in case their products are not included in the list), in order to avoid any delay or obstruction in the clearance of the imported shipment upon its arrival at customs ports.
more recommended stories
Oman extends condolences to victims of Thailand’s mass shooting
Muscat: The Sultanate of Oman expressed.
SalamAir selects Embraer E195-E2 for the next stage of growth
Muscat: SalamAir, Oman’s value-for-money airline, has.
Moody’s changes Oman’s outlook to ‘positive’ from ‘stable’
Moody’s agency raises the outlook on.
Man critically injured after falling from top mountain in Muscat
Muscat: Citizen injured after falling from.
Oman’s Transport Ministry issues executive programme for AI, Advanced Technologies
Muscat: The Ministry of Transport, Communications and.
7 expats arrested in Oman for fake bank message scam
The Royal Oman Police said that.
Camel race begins in Haima
Haima: Camel race begins today in.
Sultan’s Armed Forces Museum opens to public on October 9
Muscat: The Sultan’s Armed Forces (SAF).
UNICEF Representative to Oman Sumaira Chowdhury visits Handicapped Children’s Welfare Association
Muscat: Sumaira Chowdhury, Representative of the UNICEF.
Oman’s MOH Cancels Some Fees, Amends Expat Testing Measures
Muscat: Dr. Hilal Ali Al Sabti,.