Highlights of Oman’s General Budget for the Fiscal Year 2025

Manjot Singh Chug is a Business Tax Partner bringing over 26 years of extensive experience in tax and financial management. Manjot is recognized as a leading figure in the Oman tax landscape, having advised on 8 out of 10 major projects in the country across various sectors such as oil and gas, exploration and mining, water and power, engineering and construction, and real estate. Manjot’s impressive career includes a notable tenure at a Big Four firm, where he managed over 100 client relationships and implemented effective tax strategies across Oman and the Gulf Cooperation Council (GCC) region. He most recently served as the Group Head of Tax – Middle East for a multinational enterprise, bringing a unique perspective to his advisory roles. Manjot’s depth of experience enables him to navigate complex tax environments and deliver practical, impactful solutions to clients. He specializes in strategic tax planning for new projects, Mergers and Acquisitions (M&A) due diligence and restructuring, Initial Public Offering (IPO) tax risk assessment, corporate income tax, international taxation, and transfer pricing. His expertise extends to negotiating tax disputes with the tax authorities in Oman and representing clients before the Appellate Court, achieving substantial tax savings. He is also an accredited facilitator, having facilitated business skill sets and tax technical trainings worldwide. His contributions to the learning and development field include setting up a tax university for GCC graduates at a Big Four firm, further highlighting his commitment to fostering talent and expertise in the region. Manjot is a certified Chartered Accountant from The Institute of Chartered Accountants of India (ICAI) and holds a Sustainable Finance certification from INSEAD.

Based in Riyadh, Michael leads the Middle East Indirect Tax practice, overseeing various indirect tax implementation projects across the region and actively driving other advisory and compliance services for clients. Previously, Michael was the Indirect Tax Leader of Bahrain and the Kingdom of Saudi Arabia With over 29 years of experience in Value Added Tax (VAT), Michael has worked across jurisdictions including the USA, Switzerland, and the UK, assisting clients in managing their indirect taxes. In the GCC, he advises on VAT implementation practicalities, post-implementation processes, and addresses technical issues. Michael has significant experience across sectors such as telecommunications, travel, manufacturing, oil and gas, and defense. He advises clients on supply chain reorganizations, VAT optimization planning, and mergers and acquisitions. Additionally, Michael collaborates with the Deloitte Tax Technology teams to assist clients with their systems, processes, and compliance challenges.

Michael has been based in the GCC region for the last seven years, supporting the indirect tax teams on VAT implementations and VAT advisory projects. He has significant experience in VAT technical matters, VAT management, compliance and reporting, due diligence, compliance reviews, and managing VAT audits by tax authorities. Before moving to the GCC, Michael was an Indirect Tax Partner with Deloitte Australia and has over 30 years of experience in the UK, Australian, and GCC VAT systems. He began his career with the UK VAT Tax Authority as a VAT auditor and has been involved in GST (VAT equivalent) and VAT implementation phases in Australia, the UAE, and Oman. Michael’s extensive career has given him vast experience in the practical aspects of VAT and its impact on businesses managing compliance. He specializes in advising some of the largest businesses, focusing on complex VAT advisory matters, dispute resolution support, and engagements with government sectors. With his experience in the UK tax and customs authority, Michael has a deep understanding of how to interact with tax authorities during audits. This allows him to provide clients with valuable insights into post-implementation reviews and audit processes from both a VAT technical and practical perspective.

Manjot Singh Chug is a Business Tax Partner bringing over 26 years of extensive experience in tax and financial management. Manjot is recognized as a leading figure in the Oman tax landscape, having advised on 8 out of 10 major projects in the country across various sectors such as oil and gas, exploration and mining, water and power, engineering and construction, and real estate. Manjot’s impressive career includes a notable tenure at a Big Four firm, where he managed over 100 client relationships and implemented effective tax strategies across Oman and the Gulf Cooperation Council (GCC) region. He most recently served as the Group Head of Tax – Middle East for a multinational enterprise, bringing a unique perspective to his advisory roles. Manjot’s depth of experience enables him to navigate complex tax environments and deliver practical, impactful solutions to clients. He specializes in strategic tax planning for new projects, Mergers and Acquisitions (M&A) due diligence and restructuring, Initial Public Offering (IPO) tax risk assessment, corporate income tax, international taxation, and transfer pricing. His expertise extends to negotiating tax disputes with the tax authorities in Oman and representing clients before the Appellate Court, achieving substantial tax savings. He is also an accredited facilitator, having facilitated business skill sets and tax technical trainings worldwide. His contributions to the learning and development field include setting up a tax university for GCC graduates at a Big Four firm, further highlighting his commitment to fostering talent and expertise in the region. Manjot is a certified Chartered Accountant from The Institute of Chartered Accountants of India (ICAI) and holds a Sustainable Finance certification from INSEAD.