MUSCAT: Oman will roll-out mandatory tax card system for corporate companies including SMEs from July 1st, a top Tax Authority official informed The Arabian Stories.
The Tax card system provides an identification number to be used on all correspondence, bills, documents, and contracts. “Companies there are operating as SAOCs, SAOGs, LLCs, SMEs, and branches of foreign companies needs to have the tax card. The unique identification number on the tax card must be used for invoices and official correspondence,” the official said.
The Oman Tax Authority, in Decision No. 27/2020 issued on 18 May 2020 mandated the introduction of the tax card for all taxpayers in the Sultanate.
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According to the official, the tax authority may impose a fine of between OMR 200 to OMR 5,000 on taxpayers who fail to obtain a tax card.
The validity of the tax card will be for a period of two years. “A tax payer can apply for the tax card through the Tax Authority’s website which is currently being modified and they (taxpayer) have to pay OMR 10 for the application fee,” he added.
