Oman Guide: Guide to VAT in Oman
Value-Added Tax in Oman has finally been introduced on 16 April 2021 and a guide on VAT registration and preparation has been given by Oman Tax Authority (OTA). It...
Continue ReadingValue-Added Tax in Oman has finally been introduced on 16 April 2021 and a guide on VAT registration and preparation has been given by Oman Tax Authority (OTA). It...
Continue ReadingInput Tax Deduction is available to a Taxable Person who incurs it, if applied in making Taxable Supplies, or Supplies made to outside Oman in any of the GCC...
Continue ReadingVAT due date is the period VAT becomes due to be paid to the Oman Tax Authority. The due dates are critical to determining the VAT and working of...
Continue ReadingAdhering to the Common VAT Agreement of GCC, the government of Oman has imposed 5% value added tax (VAT) on almost all the sectors. This development came on 16th...
Continue ReadingOman is growing in significance in the Middle East. Its policy of economic diversification based on the involvement of private enterprises is showing signs of economic growth and creating...
Continue ReadingValue Added Tax (VAT) is a consumption-based tax levied on goods and services. VAT is an indirect tax that is a substantial source of revenue for world economies. The...
Continue ReadingTax Return shall be filed by the Taxable Person to the Authority within 30 days following the end of the Tax Period, and this return shall specifically include the...
Continue ReadingTax disputes occur when the taxable person is not satisfied by the decision of the authority. The law provides an opportunity for the taxable person to file an objection...
Continue ReadingPenalties are penalties and imprisonment imposed on a taxable for violation of the Oman VAT law. Without prejudice to any severer penalty stipulated in any other law. What is...
Continue ReadingWhat is the VAT rate and When will it be effective? Sultan Haitham bin Tariq approved the fact that Oman will introduce VAT by 5% and it will be...
Continue Reading