You may be aware that the Registration for VAT in Sultanate of Oman is mandatory for all the organisations / individuals whose annual taxable supplies are more than OMR 38,500. Different timelines are set for the entities registration according to the annual taxable supplies limit. The timelines are elaborated below:
| Phase | Taxable Turnover | Registration Timeline | Effective Registration Date |
|---|---|---|---|
| 1st Phase | Above OMR 1m | 1 Feb - 15 Mar 2021 | 16-Apr-21 |
| 2nd Phase | OMR 500k - OMR 1m | 1 Apr - 31 May 2021 | 01-Jul-21 |
| 3rd Phase | OMR 250k - OMR 499k | 1 Jul - 31 Aug 2021 | 01-Oct-21 |
| 4th Phase | OMR 38.5K - OMR 249k | 1st Dec 21 - 28 Feb 2022 | 1 Apr 2022 |
As illustrated above, the 2nd phase deadline (31st May 2021) for the mandatory registration for organisations and individuals having annual taxable supplies between OMR 500,000 to OMR 1,000,000 is fast approaching. Also organizations in the 3rd and 4th phase can register on voluntary basis.
We would be happy to provide any assistance with the registration and assessing the implications of VAT for your esteemed organisation. You may kindly get in touch on the below given details for your requirement.
Contact Details
Mohamed Habib Certified Accountants
208, Hatat House,
P O Box: 233, P.C. 100, Muscat
Sultanate of Oman
Oman
Email: ambi.ap@mcagulf.com
Telephone: +968 2457 1401
Mobile: +968 9176 9455
Working Hours: 9AM – 6PM, Sunday to Thursday
