08 Feb 2021
VAT in Oman
The Oman Government has announced the approval of Royal Decree No. 121/2020 dated 12 October 2020, publicizing the long awaited Value Added Tax (VAT) Law. The VAT Law will come into effect 180 days from the date of its publication in the Official Gazette, with a likely VAT go-live date of April 2021.
This will present significant impacts to businesses with operations in the country. The announcement of the Law and likely effective date of implementation means all businesses with supply chains in the Sultanate must look at their VAT implementation plans.
Download our Oman VAT summary document to get a general overview on the following key areas:
· General outlook around the implementation
· VAT business impacts in Oman
· Potential VAT risks
· Common pre-implementation actions
From our VAT implementation experience in the UAE, SAUDI,QATAR, BAHARAIN,OMAN ,INDIA, UK AND USA businesses need to start preparing early, to ensure readiness and day one compliance.