MUSCAT: Residential rentals are exempted from Value Added Tax (VAT), while hotel apartments, industrial and commercial complexes must pay a 5% tax, Oman’s TAX Authority has confirmed.
The widely discussed VAT has come into force on Friday, April 16.
“Any building or part of it designed for residential purposes and with necessary approvals are exempted from VAT,” the authority said. According to the authority, shop rentals are also included in 5% tax.
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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.
