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Oman: OTA Calls on all VAT Registrants to Abide by the Provisions of the VAT Law
Muscat June 26 2023:
Oman Tax Authority (OTA) has called on all VAT registrants to abide by the provisions of the VAT Law, submit tax returns on the specified dates and disclose the tax.
It should be noted that in the event of non-compliance for VAT registration for those whose annual revenues or supplies exceed OMR 38, 500, or if the tax return does not include the real data of VAT, it is considered a crime under the text of Article (101) of the Value Added Tax Law No.121/2020 and is punishable by imprisonment for a period of up to three years and a penalty of up to OMR 20, 000.
Moreover, failure to submit a tax return for any tax period, failure to issue a tax invoice or failure to keep tax invoices are also considered as a crime under Article (100) of the Value Added Tax Law and is punishable by imprisonment that may reach one year and a penalty of OMR 10,000.
It is worth mentioning that the Tax Authority has started widespread awareness campaigns targeting all taxpayers in various governorates of the Sultanate of Oman to comply to the Tax Laws in order to preserve their rights and avoid getting penalized.