VAT advisory for SMEs and small businesses in Oman has been saved
VAT advisory for SMEs and small businesses in Oman
Value Added Tax implementation in Muscat
The Oman Government has announced the implementation of the much anticipated Value Added Tax (VAT) Law. This is a significant fiscal reform with implications for every business with supply chains in, or involving, the Sultanate.
We are aware that Small and Medium Enterprises (SMEs) in Oman may have financial constraints to accommodate this significant business transformation resulting in the introduction of VAT. SMEs often have limited resources and their IT architecture is generally simpler. In addition, SMEs are also more resource-restricted in terms of dedicated staff and the ability to engage external VAT specialists. This can result in SMEs facing greater inefficiencies to continue trading and to comply upon the introduction of VAT, or experiencing financial difficulties as well as non-compliance costs.
With these goals in mind, Deloitte has developed an outcome-focused approach designed for SMEs to help achieve their specific objectives, tailored to their individual needs.
Download the document to learn how Deloitte can support your business during this time.