VAT: Submit tax returns on time to avoid penalties, says Oman’s Tax Authority

VAT IN OMAN
VAT IN OMAN

Muscat: The Tax Authority has instructed all the registered taxpayers of VAT to submit the tax returns on the specific date to avoid legal penalties.

In a statement issued by Tax Authority said that “In accordance with the value-added tax law issued by Royal Decree No. 121/2020, all taxpayers registered with the tax authority must submit returns on the dates specified in the law in accordance with the decisions and regulations issued on this basis.”

The Authority added in the statement “In the event of non-compliance, it will levy penalties and stipulated in the same law.”

With “referring to the Value Added Tax Law, Chapter Twelve includes a set of penalties, namely:

set of penalties for vat in oman

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