Oman VAT - Registration update

Introduction

Businesses in Oman with revenues (actual or expected) in excess of 1million OMR can now register for VAT. Businesses exceeding this threshold will be required to register for VAT by 15 March 2021, and be ready to comply with the VAT law from April 16 2021.

Resident businesses with a valid commercial registration

Have to apply via the portal (click here)

• Fill the details required in the application form (details of Business, Principle Officer, and Bank Details)

• Attach the following documents

  1. Company - Commercial Registration Certificate and trade License

  2. Principal Officer - Passport or Resident card

Resident businesses without a valid commercial registration

Have to apply via email (VAT@taxoman.gov.om) (click here)

• Fill the details required in an Excel based application form (details of Business, Principle Officer, and Bank Details)

• Attach the following documents

  1. details of actual or expected annual supplies

  2. details of actual or expected annual expenses

  3. copy of identification of principal officer (passport, residency card or ID)

  4. proof of conducting activity in Special Zone or customs suspension situations

Non-Resident businesses

Have to apply via email (VAT@taxoman.gov.om) (click here)

• Fill the details required in an Excel based application form (details of Business, Principle Officer, and Bank Details)

• Attach the following documents

  1. copy of company registration documents in country of residence

  2. copy of identification of principal officer (passport, residency card or ID)

  3. proof of conducting activity in Special Zone or customs suspension situations

Businesses whose annual supplies or expenses exceed (or are expected to exceed) OMR 19,250 may also register for VAT at any time from 1 February 2021 on a voluntary basis.

In addition, the Oman Tax Authority has updated its website to provide a facility for businesses to check the validity of VAT registration numbers in Oman.

How we can help?

Our team is available to discuss and bring clarity to the specific challenges that your businesses will face in getting ready for VAT, that can be regarding registration, training employees, advisory on a legal position etc.

At Narayan Tax, we have organized VAT work streams that involve impact assessments, service design and implementation, as well as ongoing VAT technical analysis, advisory, training, project and change management.

We can help you through all phases of implementation, providing advice and recommendations for managing VAT compliance, addressing VAT costs and avoiding significant penalties.