GCC Indirect Tax Weekly Digest
February 9, 2021
GAZT publishes guideline on the extension of tax amnesty
The Kingdom of Saudi Arabia (KSA) General Authority of Zakat and Tax (GAZT) has published a guideline in Arabic on the extension of the tax amnesty in KSA to 30 June 2021.
The objective of the guideline is to provide taxable persons with additional clarity on the fines and penalties covered by the tax amnesty, the conditions under which the amnesty is applicable, and details about the periods to which the amnesty relates.
VAT registration period begins for businesses with annual supplies exceeding OMR 1 million
The VAT registration period began in Oman on 1 February 2021, on a mandatory basis for businesses with annual actual or expected supplies of OMR 1 million or more, and on a voluntary basis for all eligible businesses with annual actual or expected supplies/expenses of OMR 19,250 or more.
The period to apply for registration for businesses over the OMR 1 million threshold is from 1 February 2021 to 15 March 2021, with an effective registration date of 16 April 2021 (i.e. the implementation date of VAT in Oman).
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.
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.