NEWS - Mohammed Jawad, the acting undersecretary of the Ministry of Finance, confirmed that Oman’s budget for 2020 doesn’t include VAT as a source of revenue, indicating a delay in the VAT implementation.
Despite the delay in introducing a VAT regime, some excise taxes have been implemented in the past twelve months including a 100% levy on tobacco, pork, alcohol and energy drinks and a 50% tax on carbonated beverages. The tax on alcohol was later reduced to 50%.
In 2018, all six of the Gulf Cooperation Council states agreed to introduce a harmonised 5% VAT regime and customs union. So far, only Saudi Arabia, UAE and Bahrain have proceeded.
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