Share with your friends

Oman: Update on VAT

Oman: Update on VAT

The Shura Council approved a proposal for value added tax (VAT) legislation and has taken the next step in the process by referring the VAT proposal to the State Council.


Related content

According to reports, the Shura Council approved:

  • A requirement that the introduction of a VAT regime would coincide with Oman’s GDP achieving a specified growth rate or threshold
  • Relief from VAT or VAT exemptions for medium and low-income taxpayers
  • Allocation of part of the revenues realized from the VAT to support medium and low-income groups

Read more about the VAT proposals: TaxNewsFlash

KPMG observation

Given the current economic conditions, observers believe that the possibility of an early 2021 implementation cannot be ruled out. 

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal