VAT’s UP

VAT’s UP

OTA Organizes Seminar on VAT and Excise Tax

Date: 15 Jun, 2024

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External URL: https://bit.ly/4bkVaoO

Muscat June 15 2024:

The Oman Tax Authority, in cooperation with Oman Chamber of Commerce and Industry, organised an awareness seminar on ‘Value Added Tax and Excise Tax’, at the Chamber’s headquarters.

The seminar targeted the entrepreneurs and included several topics such as the importance of tax awareness in enhancing tax compliance, the method of submitting VAT returns through the Tax Authority’s portal, as well as the methods of accounting tax-related transactions. The seminar concluded with discussion and response to the attendees’ inquiries.

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Oman Tax Authority Continues to Spread Awareness on Taxation

Date: 18 Mar, 2024

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External URL: https://bit.ly/3Pxb876

Muscat March 18 2024:

The Salalah Tax Authority recently organized a seminar on “Tax Laws and Legislations for Special Economic and Free Zones” at Salalah Free Zone targeting employees from Salalah and Al Mazunah Free Zones. This comes as a part of the Tax Authority’s efforts to educate Special Economic and Free Zones about tax laws and related processes like exemption terms, and filling and following up procedures applied for those zones.

During the seminar, participants received a better insight on the definition of Free and Economic Zones, the tax registration process in the Sultanate of Oman, and tax treatment for special zones. At the end of the seminar, the Tax Authority answered all rising questions and queries as well as reviewed the e-services provided at the online portal of the Tax Authority.

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Oman Most Affordable Tax-free Country

Date: 19 Jan, 2024

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External URL: https://www.muscatdaily.com/2024/01/15/oman-most-affordable-tax-free-country/

Muscat January 19 2024:

Oman is the most affordable tax-free country to relocate to in 2024, with a relocation score of 7.92 according to research by award-winning expat insurance provider William Russell. It is also the cheapest country to purchase or rent an apartment in, as it boasts the lowest monthly living costs. It is also the third cheapest country for monthly utility bills, costing around £83 ($103).

Kuwait is the second most affordable tax-free country to move to this year, with a relocation score of 6.49/10. Single economy flights to the country range from US$159 to US$660 and Kuwait is also the second most affordable country for both monthly costs and utility bills.

Bahrain ranks third most affordable tax-free country to relocate to in 2024, earning a relocation score of 6.36/10. Bahrain is the second cheapest country to purchase an apartment in, costing US$173/sqm on average. It is also the fifth most affordable country for both monthly costs and utility bills.

Popular relocation spot – the United Arab Emirates – ranked the fourth most affordable tax-free country (relocation score 5.84/10), with monthly costs of around US$959, while the average monthly net salary in the UAE is around US$3,474.

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