TallyPrime’s Amazing Capabilities & VAT Compliances.
VAT is a general consumption tax that is levied on taxable goods and services that are bought and sold in Oman including the import of goods and services. It is levied and collected at every stage of the supply chain right from the manufacturer’s purchase of raw materials to a retailer’s sale of an end-product to a consumer. Since it is an indirect tax system, the registered businesses act as agents to levy, collect and remit the tax to the authorities.
Oman VAT registration opened on February 1, 2021, for taxable persons with annual supplies exceeding — or expected to exceed — 1 million Omani Rial.