Oman's Ministry of Finance has announced that it has postponed the implementation of value added tax (VAT) to 2019 and has approved the implementation of the selective excise tax on products deemed harmful to health in mid-2018. The implementation of both the VAT and the selective excise tax has been agreed to by all Gulf Cooperation Council Member States, although, to date, the implementation of the taxes has only been finalized by Saudi Arabia and the United Arab Emirates.