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OTA released a New VAT Taxpayer Guide for Oil and Gas Sector
Muscat- January 07, 2021:
Oman Taxation Authority (“OTA”) has issued a guide to provide additional interpretation and guidance for the application of the VAT Law and its corresponding executive regulations to the Oil and Gas Industry in Oman. The guide throws clarification on important practical aspects for the industry in Oman.
The aspects include the applicability of VAT for upstream, midstream, and downstream activities performed by the sub-contractors, contractors, and operators. Each of these areas has been elaborately discussed through the guide. It also includes the scope of zero-rating under Article 93 of the Executive Regulations, which is one of the crucial areas for businesses operating within the sector.
Click here to view the detailed guide – VAT Taxpayer Guide- Oil and Gas.
For more information, please contact Oman Tax Authority:
P.O. Box: 285, P.C. 100, Muscat
Hours: Sunday – Thursday | 07:30-14:30
Telephone: +968 2474 6996