The Minister of Commerce and Industry has confirmed that a value added tax (VAT) will be introduced in Oman beginning in 2021. The Oman tax authority is continuing to prepare to implement VAT.
Preparing for the introduction of VAT requires careful planning and time. Businesses in Oman may want to consider preparing now for VAT implementation based on existing VAT legislations in the Gulf Cooperation Council (GCC) and the GCC Common VAT Framework Agreement. When laws and regulations are issued, businesses will be able to update the work already done in order to fully comply.
Read a January 2020 report prepared by the KPMG member firm in Oman
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