Following the issuance of Royal Decree No. 121/2020, the VAT Law was published in the Official Gazette of Oman on Sunday, 18 October 2020.
The VAT Law contains 106 Articles divided into 13 Chapters covering provisions relating to registration, taxable value, zero-rated and exempt supplies, invoices, penalties, and transitional provisions. The Executive Regulations are expected to be released by the end of this year.
Source: PwC
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