Oman | Tungsten Network https://www.tungsten-network.com The journey to world-class starts here. Tue, 02 Aug 2022 14:05:50 +0000 en-GB hourly 1 https://wordpress.org/?v=5.9.3 Plan to introduce e-invoicing systems https://www.tungsten-network.com/compliance-overview/country-updates/country/oman/plan-to-introduce-e-invoicing-systems/ https://www.tungsten-network.com/compliance-overview/country-updates/country/oman/plan-to-introduce-e-invoicing-systems/#respond Fri, 27 May 2022 11:00:35 +0000 https://www.tungsten-network.com/compliance-overview/country-updates/country/%country%/plan-to-introduce-e-invoicing-systems/ Oman introduced VAT in April 2021 as part of the GCC Common VAT Agreement, with a standard VAT rate of 5%. Recently, Oman Tax Authority expressed its interest in introducing e-invoicing in a gradual phase, opening it up to VAT taxpayers on a voluntary basis initially, and subsequently on a compulsory basis. It is unclear […]

The post Plan to introduce e-invoicing systems first appeared on Tungsten Network.]]> Oman introduced VAT in April 2021 as part of the GCC Common VAT Agreement, with a standard VAT rate of 5%.
Recently, Oman Tax Authority expressed its interest in introducing e-invoicing in a gradual phase, opening it up to VAT taxpayers on a voluntary basis initially, and subsequently on a compulsory basis. It is unclear when the e-invoicing system will be implemented, but we can expect it to be implemented during 2023.

The post Plan to introduce e-invoicing systems first appeared on Tungsten Network.]]> https://www.tungsten-network.com/compliance-overview/country-updates/country/oman/plan-to-introduce-e-invoicing-systems/feed/ 0 Introduction of VAT https://www.tungsten-network.com/compliance-overview/country-updates/country/oman/introduction-of-vat/ Thu, 03 Jun 2021 22:00:00 +0000 https://www.tungsten-network.com/compliance-overview/country-updates/country/%country%/introduction-of-vat/ Oman has introduced VAT from 16th April 2021. VAT has been set at 5% on goods and services. Certain services will be taxed at zero-rated VAT, and others exempted. The requirement for businesses to register for VAT will depend on business turnover, which has been outlined by the Sultanate of Oman.

The post Introduction of VAT first appeared on Tungsten Network.]]> Oman has introduced VAT from 16th April 2021. VAT has been set at 5% on goods and services. Certain services will be taxed at zero-rated VAT, and others exempted.

The requirement for businesses to register for VAT will depend on business turnover, which has been outlined by the Sultanate of Oman.

The post Introduction of VAT first appeared on Tungsten Network.]]> Introduction of VAT https://www.tungsten-network.com/compliance-overview/country-updates/country/oman/introduction-of-vat-2/ https://www.tungsten-network.com/compliance-overview/country-updates/country/oman/introduction-of-vat-2/#respond Thu, 03 Jun 2021 21:00:00 +0000 https://www.tungsten-network.com/compliance-overview/country-updates/country/%country%/introduction-of-vat-2/ Oman has introduced VAT from 16th April 2021. VAT has been set at 5% on goods and services. Certain services will be taxed at zero-rated VAT, and others exempted. The requirement for businesses to register for VAT will depend on business turnover, which has been outlined by the Sultanate of Oman.

The post Introduction of VAT first appeared on Tungsten Network.]]> Oman has introduced VAT from 16th April 2021. VAT has been set at 5% on goods and services. Certain services will be taxed at zero-rated VAT, and others exempted.

The requirement for businesses to register for VAT will depend on business turnover, which has been outlined by the Sultanate of Oman.

The post Introduction of VAT first appeared on Tungsten Network.]]> https://www.tungsten-network.com/compliance-overview/country-updates/country/oman/introduction-of-vat-2/feed/ 0 VAT Executive Regulations published https://www.tungsten-network.com/compliance-overview/country-updates/country/oman/vat-executive-regulations-published/ Wed, 31 Mar 2021 22:00:00 +0000 https://www.tungsten-network.com/compliance-overview/country-updates/country/%country%/vat-executive-regulations-published/ The VAT Executive Regulations have been issued by the Oman Tax Authority ( Decision 53 of 2021 (in Arabic)) on 14 March 2021 – this will allow companies to properly prepare for the introduction of VAT in Oman, starting from 16 April 2021. See here for further details.

The post VAT Executive Regulations published first appeared on Tungsten Network.]]> The VAT Executive Regulations have been issued by the Oman Tax Authority ( Decision 53 of 2021 (in Arabic)) on 14 March 2021 – this will allow companies to properly prepare for the introduction of VAT in Oman, starting from 16 April 2021.
See here for further details.

The post VAT Executive Regulations published first appeared on Tungsten Network.]]> VAT Executive Regulations published https://www.tungsten-network.com/compliance-overview/country-updates/country/oman/vat-executive-regulations-published-2/ https://www.tungsten-network.com/compliance-overview/country-updates/country/oman/vat-executive-regulations-published-2/#respond Wed, 31 Mar 2021 21:00:00 +0000 https://www.tungsten-network.com/compliance-overview/country-updates/country/%country%/vat-executive-regulations-published-2/ The VAT Executive Regulations have been issued by the Oman Tax Authority ( Decision 53 of 2021 (in Arabic)) on 14 March 2021 – this will allow companies to properly prepare for the introduction of VAT in Oman, starting from 16 April 2021. See here for further details.

The post VAT Executive Regulations published first appeared on Tungsten Network.]]> The VAT Executive Regulations have been issued by the Oman Tax Authority ( Decision 53 of 2021 (in Arabic)) on 14 March 2021 – this will allow companies to properly prepare for the introduction of VAT in Oman, starting from 16 April 2021.
See here for further details.

The post VAT Executive Regulations published first appeared on Tungsten Network.]]> https://www.tungsten-network.com/compliance-overview/country-updates/country/oman/vat-executive-regulations-published-2/feed/ 0