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Oman to levy 5% VAT from 16 April, 2021
Muscat- March 16, 2021:
Oman will start implementing five per cent value-added tax (VAT) from April 16,2021. It is estimated that VAT will contribute 1.5 per cent towards the country’s gross domestic product (GDP) and raise around 400 million Omani riyals (Dh3.8 billion; $1 billion) per year for the country’s exchequer.
The implementation of VAT comes in line with the GCC framework that was agreed between the six nation bloc. Saud bin Nasser bin Rashid Al Shukaili, chairman of the Tax Authority in Oman, said all necessary preparations to implement VAT from April 16 have been completed.
Oman VAT timeline
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