Oman: Draft Hidden Trade Law Under Consideration
Oman’s State Council is considering a draft hidden trade law. If approved, it will help companies identify loopholes and boost Omanisation across various sectors. Hidden trade occurs when a company is owned on paper by an Omani national but, in practice is run by someone else. This person does not create employment for the company’s employees but instead makes them find their own jobs while still being employed by the company. Under the new law, those found guilty of engaging in hidden trade will be punished. The State Council will review the draft law and then refer it back to the Council’s Economic Committee.