MUSCAT: Oman is all set to implement Value Added Tax (VAT) on April 16, the Tax Authority confirmed on Thursday.
The 5% tax will be imposed on most goods and services, with the exemption of a specific set of goods and services, rendered to consumers at outlets throughout the Sultanate. It will also be imposed on imports of goods to the sultanate, except the ones exempted by law.
The list of goods and services exempted from the VAT includes healthcare, education, financial services, and basic food items and supplies for persons with special needs, among other items and services. “OMR 400 million is expected to be collected annually from the application of this tax,” said His Excellency Saud bin Nasser Al Shukaili, Head of Tax Authority.
Read More
- Oman, Iran agree framework for safe shipping corridor through Strait of Hormuz
- Thunderstorms, strong downdraft winds sweep parts of Oman
- Saudi Crown Prince sends written message to His Majesty Sultan Haitham
- Oman FM arrives in Tehran, discusses safe passage of ships through Strait of Hormuz
- CPA seizes 1,668 soft drinks, 177 expired juice cans in Oman
