22 Oct 2020Professional Services
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.