GCC Indirect Tax Weekly Digest

Oman developments
 

VAT registration period begins for businesses with annual supplies between OMR 500,000 and OMR 1,000,000
 

The period to register for Value Added Tax (VAT) in Oman has begun for businesses with an actual or expected value of annual supplies of between OMR 500,000 and OMR 1,000,000.

The period to apply for registration for such businesses is from 1 April 2021 to 31 May 2021, with an effective registration date of 1 July 2021.

Businesses required to register for VAT should begin the process as a matter of priority, in order to allow sufficient time for the OTA to review and approve the registration application, and to provide amended/additional documentation if requested by the OTA.

As detailed in the OTA’s VAT registration guide, the VAT registration process for businesses in Oman is as follows:

This digest is for information purposes only and should not be construed as advice. It does not necessarily cover every aspect of the topics with which it deals. You should not act upon the contents of this alert without receiving formal advice on your particular circumstances.