MoF orders daily transfer of government revenues to the treasury


هذه الصفحة متوفرة بهذه اللغة: العربية

28 August 2020

MUSCAT (WAF): Sultan bin Salem al-Habsi, the Omani Minister of Finance, has issued directives to all civil, military and security government agencies to transfer the full amounts of revenue to the state treasury account at the Central Bank on a daily basis.

The Financial Circular issued by the Ministry -dated 27 August 2020- stated that the step comes in implementation of orders from the Sultan to centralise of the state’s public revenues.” The Ministry noted the necessity of a “full and complete” commitment with these directives and set five working days as the maximum period for delay in transferring the revenues collected to the state’s treasury account.

The Circular said that government agencies must provide the Ministry of Finance (MoF) with the receipt vouchers for the sums collected and the supporting documents within two business days from the date of the payment of dues. Each government entity must also submit a monthly statement of the collected revenues and matching receipt vouchers after being approved by the treasury department in these Entities.

Civil, military and security entities will also provide MoF with copies of their account statement issued by the commercial banks for the last two working days for each month.