Your strategic advisor for VAT and other Indirect Tax matters in Oman has been saved
Your strategic advisor for VAT and other Indirect Tax matters in Oman
On 16 April 2021, Oman introduced Value Added Tax (VAT) and the Oman Tax Authority (OTA) has been bestowed with the responsibility for its proper administration. In the past, we have witnessed that the OTA has published several taxpayer guides, private and public clarifications, notices, and more, to facilitate businesses with the proper administration and VAT compliance.
VAT is a transaction-based tax that needs to be continuously monitored for effective compliance. Tax assessments, audits and enforcement are also becoming increasingly sophisticated, with a focus on common errors and industry specific issues. The OTA leverages daily interactions throughout the administrative cycle to validate taxpayer compliance, such as refund applications, administrative requests, and de-registration.
It is therefore crucial for businesses to have a clear process in place for regular review of its VAT positions and identify any errors early as part of their ‘business as usual'.
Deloitte has created a document to help support businesses as they navigate through their VAT and Indirect Tax journey in Oman. Download the document now.