VAT Filing

VAT in Oman is relatively a new concept when considering the other GCC countries, the latest of which was Bahrain. The decision to implement VAT in Oman was in the talks from early 2020. On 12 October 2020, His Majesty Sultan Haitham Bin Tariq issued Royal Decree No. 121/2020 to introduce the Value Added Tax law in Oman at the rate of 5%. The mandatory Oman VAT registration threshold is OMR 38,500. However, it is possible to apply for a voluntary registration above OMR 19,250. The threshold is based on annual turnover for the preceding 12 months. Businesses can apply for registration of the same from February 2021.

The Oman Government has published the VAT law in the official Gazette on 18 October 2020. This law will come into effect 180 days from the date of publication. i.e., 16 April 2021. This gives very little time for business to huddle up and prepare for the changes in tax coming their way. There still exists some grey area as regards to the frequency of filing of VAT returns.

The VAT Law in Oman does not make available the specifics return filing. Although, it is expected that the Oman VAT filing would be quarterly. VAT return must be filed wi0thin 30 days from the end of period. It is presumed that concrete details are to be followed up by the authorities shortly.

We at HLB are insistent on furnishing our clients with the best services possible. Our personnel consist of a highly experienced team of professionals who have knowledge and expertise in various fields of taxation. Since VAT being comparatively a new concept for businesses in Oman, we would be happy to lend our services to the establishments in need.

We can be a very useful asset to all your business VAT needs. Feel free to contact us for your tax related queries at +968 244 85859.

Helping you make the most out of your tax responsibilities

Businesses with international plans and operations need to be fully informed of their tax duties. They need tax professionals who can provide a combination of local attention and global capabilities. HLB’s global team of tax professionals can provide you with the necessary proactive advice and support. We work together to plan for and provide a wide range of opportunities for both inbound and outbound businesses and corporations. We understand that global businesses are not run out of one single locations. We provide a full range of tax services for those whose talent mobility strategy requires relocation of individuals to other tax jurisdictions. We know that international tax planning takes many forms, just like every business is unique. Our team of experienced tax professionals takes the time to understand your unique tax position and tailors services to fit your needs.

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