Muscat: With Value Added Tax expected to come into effect in Oman on 16 April, 2021, regulations governing its implementation in the Sultanate have been issued by the Tax Authority.
The rules around VAT were issued by Saud bin Nasser bin Rashid Al Shukaily, the chairman of the Tax Authority, who announced Decision No. 53/2021, which concerns the issuance of the Executive Regulations for the VAT Law, which was based on the Value Added Tax Law under Royal Decree No. 121/2020.
The regulations include all of the procedures concerning bringing the provisions of the VAT law into effect. These include procedures for payment, registration, and collection of the tax, and for raising objections or concerns with regards to taxes imposed.
The document contains 13 chapters that have been subdivided into 211 articles.
“All of the necessary preparations and requirements for the value added tax, which has been scheduled to be implemented on 16 April, have been completed,” said Al Shukaily, speaking to Oman News Agency (ONA). “Issues relating to taxation, such as the laws and executive regulations, preparing the necessary computer equipment, setting up online links to the bodies that govern taxation in Oman, and providing training on VAT to the workers at the Tax Authority” are some of the measures that have been enacted ahead of the arrival of VAT.
