Analysis of the Oman VAT Law and its impacts has been saved
Analysis of the Oman VAT Law and its impacts
Everything you need to know
Oman Royal Decree No. 121/2020, promulgating the Value Added Tax (VAT) Law, was published in Arabic in the Official Gazette 1362 on 18 October 2020. The Law will go live on 16 April 2021, 180 days from the date of its publication in the Official Gazette.
The Law is divided into 13 Chapters and has 106 Articles. More details on exactly how some of the main decisions work will be in the Executive Regulations, which are to be released within the next two months. The standard rate of VAT will be 5% on go-live, with certain supplies being zero-rated or exempt from VAT.
Deloitte has published a document that covers the key aspects of the Law. Download the document to learn how Deloitte can support your business during this time.