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Friday, 30 December 2016

UPDATE 1-Oman raises telecommunications firms' royalty payments in revenue push | Reuters

UPDATE 1-Oman raises telecommunications firms' royalty payments in revenue push | Reuters:
"Oman's telecommunications companies will pay a royalty to the government of 12 percent of revenues in 2017, the country's Capital Market Authority said in a bourse statement on Thursday, citing a letter from the Telecommunication Regulatory Authority.

That is an increase from the current 7 per cent royalty paid by Oman Telecommunications (Omantel) and Ooredoo Oman , the companies said in bourse statements.

The CMA said Oman's cabinet had decided to lift the rate for next year. Its state revenues strained by low oil prices, the government has been looking for ways to increase its income."

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