The Omani Tax Authority has signed an agreement to provide digital tax stamp services across the country. This would be implemented by the British Firm specializing in designing tax stamps, De La Rue International.
The digital Tax Stamp project would product tracking all over the Sultanate of Oman. It uses the advanced technology of high security printed digital stamps, to track the movement of goods and products and is usually produced in the form of a label containing digital product data. Scanning of this data can give information related to its movement from the point of production to the date of display. Tax authorities would be able to use this system to ensure proper payments of taxes on the goods and track down tax violations. The system will help the tax agencies to ensure proper payment of excise tax by the suppliers and analyze the production and imports of excise goods. Ensuring transparency in taxation would help enhance the tax proceeds.
There would be a step-by-step implementation of the service targeting one excise good per phase. The first phase starting in April 2022 would be targeting tobacco products. The importers and producers have been consulted in creating a 3-step implementation plan per phase. At first, the import of goods without stamps would be stopped. In the next step, the circulation of goods without stamps would be prohibited. Finally, the possession of excise goods without stamps would be deemed illegal. The government aims to give enough time to the stakeholders to adjust to these new conditions and do the needful.
The tax authority has begun working with stakeholder tobacco companies by providing workshops that help them understand the importance of the project and help in the smooth implementation of all of the project’s phases and steps. It will also work with the stakeholders to come up with appropriate dates to implement the new laws.
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