Oman: Update on proposed VAT measures

Oman: Update on proposed VAT measures

The Shura Council in September 2020 agreed to recommendations regarding a draft value added tax (VAT) law, and returned the draft law to the State Council.

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The version of the draft VAT law before the Shura Council included:

  • 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

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The draft VAT law after being submitted the Sultan could be effective beginning early 2021, but there are reports that the implementation could delayed until 2022.

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