MUSCAT : Starting from today (April 16, 2021), the widely discussed Value Added Tax (VAT) has come into force in Oman.
Both citizens and residents will have to pay a 5 per cent on a wide range of goods and services. Oman Tax Authority have already confirmed that VAT will be imposed fuel prices, accordingly the new petrol prices have been announced on Thursday evening.
According to experts, businesses with annual supplies valued over OMR 1 million and duly registered with the Tax Authority are liable to charge and levy VAT with effect from April 16.
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Telecommunication providers Omantel and Ooredoo have already informed subscribers about an increase in service tariffs. Earlier, based on a direction from His Majesty Sultan Haitham Bin Tarik, the Tax Authority has exempted more than 450 basic food commodities.
