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Who is responsible for VAT tax payment?

The following are obligated to pay Tax: 1.Taxable Person who conducts the Supply of Goods and Services in the Sultanate; 2.The Taxable Customer receiving Goods and Services in the Sultanate from a Non-Resident Supplier in accordance to the Reverse Charge Mechanism by...

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Oman legal framework for VAT

VAT in Oman is codified under the following texts: The Unified Agreement for Value Added Tax of the Cooperation Council for the Arab States of the Gulf (the Framework) contains the VAT general principles and rules agreed at GCC level. The Framework was ratified in...

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Who needs to consider VAT registration

The obligation to register applies for both resident persons in Oman and non-resident persons that have economic activity in the Sultanate. The VAT registration will allow these persons to be identified with the tax authority as “taxable persons” which are duly...

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VAT in Oman

Oman government representatives have said that the state is looking to implement a 5% VAT regime from 1 September 2019. In 2017, it signed the Gulf Cooperation Council VAT Framework Agreement. This included: Saudi Arabia, Qatar, UAE, Bahrain and Kuwait. Only Saudi...

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How does VAT work in Oman?

If, as a VAT-registered person, you make taxable supplies (i.e., supplies of goods or services subject to VAT), you must charge VAT on your supplies, and pay it to the Tax Authority of the Sultanate of Oman. This is your “output tax”. The VAT charged by your suppliers...

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What is VAT?

VAT is an indirect tax charged on consumption and is levied on the supply and import of goods and services in Oman It is charged on the exchange of goods and services, which includes production, sales, and purchase in addition to all leasable transactions. VAT is a...

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VAT refund for participants of Expo 2020 Dubai

The method for claiming a VAT refund on the four categories of expenses will differ depending on whether or not the Official Participant is registered for UAE VAT. Four categories of expenses eligible for a refund are: The VAT incurred by the Official Participant on...

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VAT registration – Second phase in Bahrain

All entities subject to VAT or expected to generate between BHD 500,000 and BHD 5,000,000 in annual supplies are required to obtain VAT registration by June 20th, 2019. Steps for Registration In order to register for VAT, you must follow five key steps: Create an NBR...

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Certificate of Refund Entitlement for Expo 2020 Dubai

What is the Certificate of Refund Entitlement? An Official Participant of the Expo 2020 Dubai (both registered and not registered for VAT) must apply for a Certificate of Refund Entitlement before attempting to reclaim VAT on Goods and Services without the need to use...

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How to compile data for VAT return?

How to file VAT Return? The VAT Return Form is the official document summarizing for a given tax period, the total output tax due and the total input tax recoverable. The form is the same, whether a taxpayer is subject to quarterly tax periods or monthly ones....

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VAT on currency conversion services in Bahrain

A financial service will be exempt from VAT if the income earned by the supplier is by way of interest, a profit margin akin to interest or by way of an implicit margin. The implicit margin condition is usually met when the supplier specifically seeks to generate...

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Scope of VAT in Bahrain

Tax is imposed on all Taxable Supplies by a Taxable Person in the Kingdom. It is also imposed on Goods and Services received by the Taxable Customer in instances where the Reverse Charge Mechanism applies. It is also applicable to Import of Goods in accordance with...

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