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What is the due date of VAT in Oman?

VAT in Oman
What is the due date of VAT in Oman

VAT 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 the VAT system. VAT due is the amount of tax to be paid for generating revenue for the government of Oman.

What are the due dates of the supply of goods and services for VAT in Oman?

  • Date of placing the Goods in the supervision of the buyer to supply of goods without transport service.
  • Date of commencing the transportation of goods through a transport service.
  • Date of conclusion of the installation or assembly of the goods.
  • Date of exact fulfilment of the completion of services or receipt by the buyer and accepting it explicitly or upon issuance of completion of Services certificate by the customer.
  • Date of the occurrence of any of the cases stipulated in the Law.
  • Date of de-registration of the Taxable Person, in respect of Supplies made as a result of de-registration.

What are the due dates in some cases for VAT in Oman?

  • Date of supply of Goods for Goods in consignment.
  • Date of supply of Goods for deposited and mortgaged Goods as a security when the depository or the creditor supplies these Goods. The VAT is due when they deduct an amount from cash deposited as security to claim it as a final payment.
  • Dates determined by the Law for Goods supplied in instalments.
  • Date of payment specified in the invoice or date of payment, whichever is earlier, and at least once every twelve consecutive months for operating lease contracts. The dates determined for the finance lease ending with ownership.
  • Date of receipt of the Goods in the event of the ownership deprivation of Goods for consideration.
  • Date the customer expressly agrees to the supply of Goods or in a date not exceeding one month after the transport of goods to him or putting it under his disposal, whichever is earlier.
  • Date of collecting the cash from the machine for supplies made through vending machines.

What are vouchers for VAT in Oman?

Vouchers mean any written or electronic instrument under which a supplier accepts it as a Consideration fully or partially for a supply of Goods or Services. A voucher indicates the nature of the goods or services supplied the identity of the potential supplier, and suppliers of the goods or services. It’s divided into two types:

  • Single Purpose Vouchers – Providing the following details of the place of supply of Goods and Services and the value of VAT due on the supply of Goods and Services.
  • Multi-purpose Vouchers

When is VAT due on vouchers and prepaid telecommunication cards?

  • VAT is due on Vouchers and prepaid telecommunication cards that are Single Purposes on the date of their issuance. Supply for the first time and on the date of their re-supply. The Tax is not due when they are redeemed to obtain Services or Goods.
  • VAT is due on Vouchers and prepaid telecommunication cards that are Multi-Purpose on the date they are redeemed to obtain Services or Goods. VAT is not due upon the issuance and supply of these vouchers or cards for the first time or on the date of their re-supply.