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The Oman Government has published the VAT law in the official Gazette on 18 October 2020. Oman is the fourth GCC country to implement VAT after KSA, UAE and Bahrain. This law will come into effect 180 days from the date of publication. i.e. 16 April 2021.It is expected that the Executive Regulations to the abovementioned law can be issued by Tax Authority (not cabinet) by December 2020. Considering the timeline of VAT implementation, businesses would have roughly six months to prepare.

VAT in Oman

The Oman Government has published the VAT law in the official Gazette on 18 October 2020. Oman is the fourth GCC country to implement VAT after KSA, UAE and Bahrain. This law will come into effect 180 days from the date of publication. i.e. 16 April 2021.It is expected that the Executive Regulations to the abovementioned law can be issued by Tax Authority (not cabinet) by December 2020. Considering the timeline of VAT implementation, businesses would have roughly six months to prepare.

With rising concerns over the free movement of Personal Data and the minimal rights in place to protect the movement of data, a number of countries have come up with their own data protection laws. In the UAE, the Dubai International Financial Center (DIFC) has issued a new data protection law called ’Data Protection Law 2020’. The Law has come into force from 1 July 2020. A grace period of three months was provided to comply with the new regulations as enforcement began on 1 October 2020.

Introduction of the Data Protection Law 2020 in DIFC

With rising concerns over the free movement of Personal Data and the minimal rights in place to protect the movement of data, a number of countries have come up with their own data protection laws. In the UAE, the Dubai International Financial Center (DIFC) has issued a new data protection law called ’Data Protection Law 2020’. The Law has come into force from 1 July 2020. A grace period of three months was provided to comply with the new regulations as enforcement began on 1 October 2020.

Updates

Tax Street March 2021
Tax Street March 2021

We are pleased to present the latest edition of Tax Street – our newsletter.

A Roadmap to ERP Implementation
A Roadmap to ERP Implementation

ERP has become imperative for the growth of an organization as it allows smooth integration of all the business processes and offers a holistic solution.


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