Current tax system operating in sultanate of oman

Assignment Help Business Management
Reference no: EM132903154

Taxation is considered as the principal source of Government earnings. Revenue is considered as the fuel of Government machineries. In other word it could be said that, Government earns through taxation and spend it to provide multidimensional services like security, social safety, health care, road, bridges, transport, education etc. In modern system of Governance, tax system is important because it provides governments with reliable and sustainable means of revenue collection; reduces dependency on foreign aid, increase financial autonomy; enables Government to provide various cash support to deserving citizens; encourages Good Governance, Accountability, and Transparency; helps formalize the economy and promote economic growth etc.

Required

a. Explain the Current tax system operating in Sultanate of Oman.

b. Do you think that the current tax system will contribute to improving the efficiency and effectiveness of the tax administration to support the economy growth? Justify clearly in your own words how the tax system in Oman is supporting for the economic development of the country.

Reference no: EM132903154

Questions Cloud

Link the type and sources of financing : Life Cycle Financing - The following ventures have supplied information on how they are being financed. Link the type and sources of financing
Acquisition of distressed property : An investor is considering the acquisition of a "distressed property'' which is on Northlake Bank's REO list.
What is the financial goal of the entrepreneurial venture : Question - What is the financial goal of the entrepreneurial venture? What are the major components for estimating value
What asset and financial bubbles have occurred recently : What asset and financial bubbles have occurred recently? How can bubbles and financial crises lead to entrepreneurial opportunities
Current tax system operating in sultanate of oman : Taxation is considered as the principal source of Government earnings. Explain the Current tax system operating in Sultanate of Oman.
Elements effecting house prices to increase : Discuss two elements effecting the house prices to increase?
Decision-making tool in your organization : Discuss the importance of managerial accounting as "decision-making tool" in your organization.
Area of interest to you within field of team behavior. : You will conduct research to identify a current problem in an area of interest to you within the field of team behavior.
What unit cost on the completed job cost sheet would be : Snappy Company has a job-order cost system. If Job #334 contained 200 units, the unit cost on the completed job cost sheet would be?

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd