Our Oman VAT Advisory Services


Oman VAT Registration

Executive Decision No.1/2021 issued by Oman Tax Authority on 04 January 2021 has specified mandatory VAT registration turnover threshold to be RO 38,500.However, companies having a minimum of RO 19,250 turnover can also apply for voluntary VAT registration.

Oman VAT Implementation

We can assist you in VAT implementation at your business that includes guiding you on system changes or reconfiguration so that your systems produce Oman VAT Law compliant invoices and you can correctly capture input VAT and record output VAT with accuracy. Any error in this process might affect your VAT liability and cause incorrect numbers in your VAT returns.

Oman VAT Filing

Oman VAT Regulations vide Tax Authority Decision No.53/2021 read with Article 72 of the Oman VAT Law mandate that Oman VAT returns shall be filed within 30 days from the end of the tax period.Article 100 of Oman VAT Law imposes a penalty of RO 10,000 for non-filing of VAT returns.

Non -Resident VAT Registration

We assist Non-Resident suppliers of goods and services to Oman to get VAT registration and related VAT related filings.

Oman VAT Accounting Services

Oman Taxation Authority issued Oman VAT Regulations vide its Decision No.53/2021 dated 10 March 2021. This decision has been published in official gazette No.1383. VAT regulations make it mandatory to maintain books of accounts. We have an experienced team to handle and provide Oman VAT Accounting services.You can outsource your Oman VAT billing , input VAT and output VAT tracking to us and we will maintain your accounts as per details provided by you.

Oman VAT Assessment Assistance

We have an experienced team to assist you in answering queries during Oman VAT assessment. We also have tie up with Law Firms in Oman to assist you during your Oman VAT assessment process to ensure that you are always compliant with Oman VAT Law..

Our Oman Income Tax Advisory Services


Oman Income Tax Registration and Tax Card

An annual income tax return needs to be filed within four months from the end of tax year. We provide guidance to the client in filing annual Oman corporate Income Tax returns. We are Oman Income Tax Consultants and provide guidance to the client so that they can comply with Oman Income Tax Law. This includes obtaining Tax Indetification Number (TIN), procure a Oman Income Tax Card and assist clients in filing their annual Income Tax Return.

Oman Income Tax Assessment Advisory

We have an expert and experienced team of qualified Chartered Accountants to assist you during your Income Tax Assessment proceedings and represent you to tax authority to answer their queries .

Oman Withholding Tax Consultancy

We have an experienced team that assist client in meeting their obligation relating to withholding tax in Oman. We advise them so they comply with law and also help them in timely filing of their monthly withholding tax returns..

Our Auditing and Accounting Services


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Audit Services

Our partner firms in Oman and UAE

Our partner firms in the Sultanate of Oman and United Arab Emirates are duly licensed to provide Audit services and we have well qualified team and experts in International Standards on Auditing (ISAs) and International Financial Reporting Standards.

 

accounting

Accounting Services

Onsite and Offsite Accounting Services

We maintain a pool of resources including qualified Chartered Accountants, Certified Public Accountants and experienced accounting professionals who can assist you in your accounting function.

 

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Company Liquidation

Licensed to manage company liquidation in Oman and UAE

Our partner firms are licensed to manage company liquidation in the Sultanate of Oman and United Arab Emirates. We have experienced professionals who can carefully managed entire liquidation process.

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Company Formation in Oman and UAE

Our partner firms are well experienced to assist clients in Company formation. We assist investors to have their company formed. We also assist them set up their operations in Oman and UAE with our well trained local support team

7

Years of Exp

90

Clients Served

12

Consultants

2

Presence in Oman and UAE

Latest Projects


Mystery Shopping

Mystery Shopping

An International five star hotel chain operating across the world, has engaged us to conduct mystery shopping visits to their properties in Oman. We conduct visits to their properties to observe the sales booking process at food and beverage outlets and secretly report our findings to the management.

Payroll Outsourcing

Payroll Outsourcing

We assisted one of our multinational clients in processing and finalizing their payroll eevry month.The client maintains employee masters and we keep track of attendance, leave and monthly payroll.

Policies and Procedures

Policies and Procedures

We have recently been awarded a project to conduct a comprehensive internal controls review of a family business where our deliverables include detailed process maps with policies and Procedures..

We don’t want to be mere advisors

but your true business partners.

Oman VAT and Income Tax News


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Oman Confirms that VAT rate wont be increased beyond 5%

Oman is not planning to increase the value-added tax (VAT) beyond the current rate of 5 per cent, the Minister of Finance said.Speaking during a press conference to announce the proposed state budget for the year 2022, HE Sultan bin Salim Al Habsi said the current VAT rate will remain unchanged.

This comes after Bahrain’s parliament approved the doubling of VAT to 10 per cent. “We have seen some countries increasing the VAT tariff but our government has no intention of increasing the current VAT,” Al Habsi said.

Income Tax on Personal Income might be introduced in 2023

Oman is more likely to bring personal income tax in the range of 5-9%,” said Anurag Chaturvedi, chief executive of tax consultancy firm Andersen in the United Arab Emirates (UAE). He told Al-Monitor that industrial groups and agencies close to the government expect foreign nationals would be subject to a personal income tax rate between 5-9%, likely on Oman-sourced income above a threshold of $100,000.However there is no official word from Oman Tax Authority (OTA) on this matter.

Obtaining Oman Income Tax Card is mandatory

Oman Tax Authority and Oman Income Tax Law mandated that all business must obtain Tax Card which must be mentioned in all invoices and documents of the Company. Obtaining a Oman Income Tax Card is mandatory w.e.f. 01 July 2020.