VAT in Oman

Value Added Tax (VAT) in Oman

GCC (Gulf Co-operation Council) member countries have agreed in principle to introduce VAT as an additional source of revenue. UAE and Saudi Arabia implemented VAT w.e.f 1st January 2018 and Kingdom of Bahrain implemented w.e.f 1st January 2019. Even though VAT is new to GCC, it is a common tax globally. Oman is likely to implement VAT w.e.f 1st April 2021. It is very important for all businesses to evaluate their position in terms of VAT impact and team readiness.  

We help businesses for: 

  • Assessment of VAT applicability, process & system
  • VAT Registration and obtaining the ‘Tax Registration Number’
  • Training the team and Software implementation
  • Evaluate the working capital requirement and payment cycle in light of the VAT regime
  • Advising the company in terms of applicability of VAT in each identified transactions and training the staff- in- charge of the same for legal compliances
  • VAT liability computation & Filing of return

 

For any assistance on Oman VAT, you can get in touch with us:

connect@alchemistme.com

Mob: +968 79742949