Bank Muscat launches new initiative to support SME customers

Muscat: Bank Muscat has signed an agreement with Morison Muscat, a leading full-service audit, tax and business advisory firm, headquartered in Oman.

The agreement will help Bank Muscat and Meethaq SME customers comply with the recently introduced Value Added Tax (VAT).

It was signed by Ahmed Faqir Al Balushi, Chief Corporate Banking Officer, Bank Muscat and Nasser Abdullah Al Khamisi, Founder and Country Partner, Morison Muscat at the bank’s head office, in the presence of Ibrahim Khamis Al Balushi, Assistant General Manager - Small & Medium Enterprises, Bank Muscat.

VAT has been introduced in Oman and is a new concept for local businesses.

As part of the bank’s continuous support to its SME customers and to help them navigate and adapt to this new change, the tie-up with Morison Muscat will provide the following services free of charge - VAT Registration with the Tax Authority and one-to-one advisory on VAT queries.

A service desk will be available at the bank’s head office to receive VAT applications from SME customers, while tax experts from Morison Muscat will provide clarifications to customers through email, phone or virtual meetings.