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Oman updates VAT Executive Regulations

Fines, financial services, invoice deadlines updates to Executive Regulations

The Omani Tax Authority (OTA) has gazetted changes to the VAT Executive Regulations as part of the VAT Law.

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The changes include

  • Changes to the place of supply rules for wireless and mobile services to better assimilate the place of consumption.
  • Permit taxpayers to issue qualifying simplified invoices without permission of the OTA.
  • Raise the fine for not issuing a valid VAT invoice from Rial 500 to Rial 5,000.
  • Updates limit for issuing VAT invoices for supplies to 15 days
  • Extension of financial services exemption beyond just banks and insurers to any taxpayer providing relevant supplies
  • Clarification compliance documents required to recover input VAT

Oman VAT was implemented in April 2021.

Arab Gulf GCC VAT implementations

2028+ Kuwait decides between VAT or excise taxes
2025? Qatar delays VAT on inflation worries
Jan 2022 Bahrain doubles VAT to 10%
16 Apr 2021 Oman introduces 5% VAT
1 Jul 2020 Saudi Arabia trebles VAT to 15%
1 Jan 2019 Bahrain launches 5% VAT regime
1 Jan 2018 Saudi Arabia and UAE introduce 5% VAT regime
2016 VAT and Customs Union agreement: Bahrain; Kuwait; Oman; Qatar; Saudi Arabia; UAE United Arab Emirates



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