Oman tax authority to fine VAT non-filers

Share
1 min read
Share
  • The standard rate of VAT in Oman is 5 percent
  • It is among the lowest in the world

Oman’s Tax Authority has warned of a hefty fine on those who have not submitted the returns on value-added tax or VAT, said local reports on Monday.

Those who have not filed VAT returns would see a fine of up to OMR5,000 (around $13,000) imposed on them, the reports quoted the Tax Authority as saying.

The entity said in a statement: “Tax Authority would like to draw the attention of the taxpayers who have not submitted the VAT return for the tax period ending on 30 June 2021.”

It added: “They must submit the required return before 23 September 2021 to avoid any legal penalties that reach up to OMR 5,000 via the E-portal of Tax Authority.”

The standard rate of VAT in Oman is 5 percent, which is among the lowest in the world.

According to Oman’s VAT law, the VAT return is described thus: “Data and information specified for the purposes of the tax, which the taxable person must submit according to the form prepared for such purpose by the authority.”

SPEEDREAD


Today's Headlines

The most important news stories of the day, curated by Post editors and delivered every morning.

Google reCaptcha: Invalid site key.

By signing up you agree to our Terms of Use and Privacy Policy.

MORE FROM THE POST