On 12 October 2020, His Majesty, the Sultan of Oman, Sultan
Haitham bin Tariq bin Taimur, issued Royal Decree No.121/2020 in
relation to the implementation of VAT in Oman. Following the
introduction of VAT in the KSA, the UAE and Bahrain, Oman will be
the fourth GCC country to implement VAT in the region.
The VAT Law will set out the general principles for the application
of VAT in Oman in line with the Unified GCC Agreement for Value
Added Tax (VAT). The VAT Law is expected to be published in the
Official Gazette on 18 October 2020 with an effective date for the
introduction of VAT in April 2021. The VAT Executive Regulations
will provide more details on the specific areas of the Law which
are expected to be published by December 2020.
