

Muscat: Oman to impose VAT starting from April 16th 2021, and more than 90 food commodities are exempted from VAT.
The Head of the Tax Authority issued three executive decisions related to the implementation of the value-added tax, which will come into effect on April 16, 2021.
One of the decisions included food commodities subject to value-added tax at a rate of zero percent (that is, exempted from value-added tax), and the decision included a list of (94) items of the customs tariff to which this exception would be applied, and the list includes the following:
Meat, fish and poultry
Milk and dairy products
Fresh eggs
vegetables and fruits
Coffee, tea and cardamom
Cereals
olive oil
Sugar
Nutritional preparations for children
Bread
Bottled drinking water
Salt
The tax is applied in about 170 countries around the world, In the GCC, 3 countries already implemented it, while the rest are preparing to do so.
To clarify how the tax is calculated, let’s say
If you are used to buy a product at 1 OMR under VAT the same product will cost your 1 Rial and 50 Baisa If the product is taxable
As we have basic daily life requirements of goods and services, the Sultanate decided to exclude a long list of goods and services from VAT, such as Basic food commodities, medicines and medical equipment’s, education and healthcare services, Taxi services, Financial services, Even residential rental, undeveloped lands and resale of residential real estate will be excluded as well.
The Sultanate applied VAT as part of its obligation towards international parties VAT will contribute to achieve financial sustainability, Collected amount from VAT will support the government inancing costs of public projects and services.
This video will give about VAT and How will applied in Sultanate of Oman
more recommended stories
Plans for Omanisation on teaching professional in Oman: Ministry of Education
Muscat: Oman’s Ministry of Education plans.
Oman’s Ministry of Health denies rumours on number of Covid-19 cases
Muscat: Ministry of Health denies rumours.
More than 215,000 expats left Oman until December 2020
Muscat: The number of expatriate workers.
Young Omani man decides to search for doctors who saved his life while he was born
Muscat: More than 24 years ago,.
Oman extend the land border closure for another week until February 1
Muscat: Oman’s Supreme Committee decides to.
There are those who resort to buying kidney or liver illegally: Minister of Health
Muscat: His Excellency Dr. Ahmed bin.
Mwasalat announces additional bus stop at BurjAlSahwa route 36
Muscat: “Mwasalat” announced the addition bus.
Omanization rate in the Ministry of Health increased to 72% in 2019 compared to 69% in 2016.
Muscat: The sixth regular session of.
Oman bans work visas for expats, list of professions announced, Ministry of Labour
Muscat: The Minister of Labor, issued.
His Majesty Sultan Haitham sends written message to Palestinian President
Muscat: His Majesty Sultan Haitham bin.
Leave a Comment