Withholding tax in Oman

A firm registered in UAE,will be providing its services in Oman for the first time. How to accommodate the withholding tax of oman. The customer is in oman. He will be deducting 10 percent withholding tax from the invoice payment. any information on this appreciated.how to account in UAE books.

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SAJITH N16/03/2020 21:29:02

The withholding tax deducted on invoice payment should be regarded as cost in the books and gross revenue should be recognised. For VAT purposes gross invoice value should be regarded as taxable supplies (standard or zero rated as the case maybe)

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