Oman Guide: How to De-register for VAT in Oman?
A VAT-registered person in Oman shall apply for De-registration to the Authority on the following dates:
- Within thirty days from the date of ceasing to conduct the activity permanently.
- Within two months from the end of the Tax year.
Why two months delay to De-register for VAT in Oman?
Two months delay on non-meeting of the following conditions for VAT registration in Oman:
- Ceasing to provide taxable supplies.
- If the value of taxable supplies in the previous twelve months falls below the Voluntary Registration Threshold in Oman and taxable supplies will not exceed the Mandatory Registration Threshold in the next twelve months.
- If the value of taxable supplies in the following twelve months will not exceed the Voluntary Registration Threshold.
- The activity is transferred to another Person –fully or partially-and the circumstances in the above two bullet points.
The registered person has applied for De-registration in Oman by the provisions of the above two mentioned points of these Regulations but can prove that meeting the conditions for Voluntary Registration and the registered person may request to remain Tax registered at the Authority. The Taxable Person must submit the registration cancellation application.
What are the conditions to De-register for VAT in Oman?
Any Registrant may apply to the Authority for De-registration at any time, provided all meeting the following conditions:
- The value of the registered person’s taxable supplies for the previous twelve months falls below the Mandatory Registration threshold but above the Voluntary Registration threshold.
- The expected value of taxable supplies in the next twelve months not to exceed the Mandatory Registration threshold in Oman.
- The registered person has registered for at least twelve months.
What is the procedure to De-register for VAT in Oman?
An application for De-registration in Oman shall be submitted to the Authority on the form prepared for such purpose and shall include the following details:
- The name of the Registered Person.
- The Registered Person’s Tax Identification Number.
- Reasons for, and evidence of, meeting the de-registration conditions.
- Date of meeting the points of de-registration.
- The estimated value of assets on hand on the submission date of the de-registration application.
- Details of the supplies in the last twelve months and an estimate of it in the next twelve months.
- Details of the expenses in the previous twelve months and an approximation of it in the next twelve months.
- Other information as determined by the Authority.
What is the Role of the Authority to De-register for VAT in Oman?
The Authority shall decide on the application for De-registration within thirty days on completing all required details and documents. Otherwise, considered rejected. The Authority shall notify the Registered Person of the cancelation of registration by one of the means stipulated in these Regulations, including the effective date of cancelling the registration.
The Authority may cancel a Tax Registration of a person required to de-register where a Registered Person has not applied these Regulations. The Authority shall notify the Registrant within thirty days of issuing the decision of cancelling the registration.
What are the duties of a Registered Person after De-registration in Oman?
A Registrant who De-registered must keep the records and accounting books referred to in the Law and these Regulations for ten years from the date of notification of the cancellation. He is obligated to allow inspection of the records and accounting books whenever inquired by the Authority.
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