Following the recent publication of the Omani Royal Decree 56/2025, we summarize the top 5 aspects to consider and present an overview of the law...

The Oman Government has published the VAT law in the official Gazette on 18 October 2020.

In the world of taxes within the Gulf Cooperation Council (GCC) area, Oman really stands out because it's super friendly to your wallet.

These are geographically defined business areas that offer benefits to companies operating in them, such as exemptions from tax, customs, and duties and simplified administrative procedures, e.g. company incorporation, and visas for expatriates and their families.

The Oman tax authorities have recently released ‘VAT Registration Guide (Transitional Period)', that explains the registration requirements for businesses and individuals.

The following Q&A, originally published for Lexis Middle East, answers important questions regarding the laws and regulations governing Banking in Oman.