Corporate Tax Analysis: Impact on Oman's Economy and Development

This assignment provides an analysis of corporate tax, focusing on its significance and impact within the context of Oman's economy. It explores the role of corporate tax in funding development projects such as infrastructure, social welfare programs, and small-scale business assistance. The assignment highlights the importance of corporate tax as a major source of revenue, contributing to the country's GDP and enabling various development activities. The analysis also includes references to the impact of corporate tax on financial performance and economic growth, referencing sources such as Goodhart and Lastra, Peterson and Taleqani, and Calpini and Hikino. The assignment emphasizes the role of corporate tax in fostering economic stability and growth, supporting the country's overall development goals.

TAXATION

Corporate tax is the tax which is imposed on the companies over the profits of the
companies. There are different rates of the tax which varies company to company (Ta. and Bui,
2018). The people are separate from the company that is the reason they are charged separately.
If the tax is paid in advance then it can result in concessional rate of the tax in the future. There
are different rates of the tax which are imposed on the different categories of the businesses.
Corporate tax plays a major role in the developing economy of the country and constituent a
large part of tax collection (Peterson. and Taleqani, 2018). Corporate tax constitute major part of
the percentage in the GDP The size of the business is the key thing for charging the tax in which
the turnover and the size of the employees is seen while charging taxes.
The amount collected form the tax are then contributed towards the development
activities of Oman (Goodhart. and Lastra, 2019). The development activities include construction
of road, infrastructure and small scale business and large scale business assistance. Corporate tax
helps in the development of financial economy which results in high rate per capital income
growth rate (Calpini. and Hikino, 2019). There are various projects of the government such as
social welfare activities including plantation, providing employment, Development of dam etc.
all of these activities needs investment and the same come majorly from corporate tax. The
amount is large in the taxation and if the percentage is calculated on such a large amount then the
figure becomes much larger so the same can be used in various activities.

REFERANCES
Calpini, N. and Hikino, T., 2019. The functions of the HQ unit revisited: the multidivisional
enterprise vs. the business group. Entreprises et histoire. (1). pp.128-144.
Goodhart, C. and Lastra, R.M., 2019. Equity finance: matching liability to power.
Peterson, D. and Taleqani, A.R., 2018. The Impact of Oil Boom and Bust Cycles on Western
North Dakota (No. SURLC 18-007).
Ta, H.T. and Bui, N.T., 2018. Effect of Corporate Social Responsibility Disclosure on Financial
Performance. Asian Journal of Finance & Accounting. 10(1). pp.40-58.

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