If you are looking for a TAX Registration service in OMAN, then you are at the right place. We ADS INTERNATIONAL are here for you to provide ease of VAT registration in Oman. We are here to assist you regarding your queries about VAT registration and other services in Oman, how to register VAT in Oman & also about different tax structures and tax registration in Oman.
Abstaining from tax registration in Oman may result in stringent punishment & penalty on the violator. Rules surrounding, VAT can be complex, our expert team will provide VAT registration service and make the process of VAT registration in Oman ease. Our team of accounting experts will be on the forefront to provide analysis, resources and assistance regarding VAT registration and other accounting services in Oman.

A good entrepreneur may not be an expert in accounting and many business firms are not familiar with the concept of VAT & VAT guidelines or tax registration in Oman. Our VAT consultants will assist you with VAT registration in Oman, VAT filing and other accounting services for your business in OMAN, calculating VAT, VAT audit services, how to apply for VAT registration in Oman any questions about anything drop us inline. Also, We provide accounting & bookkeeping to help record financial transactions, analysis, monitoring & reporting of financial data, virtual assistance for VAT registration in Oman/ Oman tax registration, advisory services for Oman tax registration. Our auditory & risk management team which includes forensic & fraud investigation service to control security risks during tax registration procedures in Oman.

The Below Table Shows the business categories, timeline for registration and effective registration time

1) Is my company exempted from VAT in Oman?

The following supplies will be exempted from standard VAT rate of 5% or zero rated in Sultanate of Oman:
● Health care services & medical equipment
● Educational services
● Renting or reselling of residential properties
● public transportation for passengers
● Real estate
● Crude oil derivatives
● Basic food products
● Financial services
● Exports of goods or services

2) What information needs to be included in VAT Invoices?

● Supplier company name & address
● VAT registration/identification number (VATIN)
● Customer details
● Tax invoice number
● Date of invoice issued, date supply is made, payment due date
● Purchase order (PO) number
● Description regarding rate & quantity of goods and services.
● Tax rate
● VAT charged in OMR

3) Do I need to register VAT in Oman?

● All companies above US$100,000 or RO 38,500 in Oman needs to do mandatory VAT registration in OMAN. It is also possible for companies with OMR 19,250 to do voluntary Tax registration in OMAN.
● Also, it is mandatory to do VAT registration if the business is run by a non-resident entity in Oman making taxable supplies in Sultanate of Oman. Also, for a non-resident person there is no minimum threshold.
● VAT is calculated on the value of supplies made by a business at the end of any month in addition to 11 months preceding it.
● 1% will be levied on the unpaid amount for delay in payment of VAT for every month.

Intentionally refraining from tax registration and payment is a punishable offence resulting in imprisonment for a period of 1 to 3 years and fine up to 20,000 OMR.

• All companies above US$100,000 or RO 38,500 in Oman needs to do mandatory VAT registration in OMAN. It is also possible for companies with OMR 19,250 to do voluntary Tax registration in OMAN.
• Also, it is mandatory to do VAT registration if the business is run by a non-resident entity in Oman making taxable supplies in Sultanate of Oman. Also, for a non-resident person there is no minimum threshold.
• VAT is calculated on the value of supplies made by a business at the end of any month in addition to 11 months preceding it.
• 1% will be levied on the unpaid amount for delay in payment of VAT for every month.

Intentionally refraining from tax registration and payment is a punishable offence resulting in imprisonment for a period of 1 to 3 years and fine up to 20,000 OMR.

4) When can I register VAT in Oman?

VAT registration in Oman is expected to start from February 2021.

You can register VAT in Oman through ADS INTERNATIONAL. We are here for you to provide ease of VAT registration in Oman. We are here to assist you regarding your queries about VAT registration and other services in Oman, how to register VAT in Oman & also about different tax structures and tax registration in Oman.

5) Is VAT applicable to special economic zone (SEZ) in Oman?

According to Article 54 Oman VAT Law recognizes Special Economic Zone (SEZ) but clarification and detailed information regarding this is expected to be provided by The Executive Regulations soon

Stay updated with ADS INTERNATIONAL for more information and queries regarding VAT in Oman.