VATupdate

Businesses should heed stipulated schedule for VAT implementation: Tax Authority

Time-bound strategy: Tax Authority warns Categories B, C and D establishments not to levy new tax ahead of time

Oman’s Tax Authority has cautioned businesses and organisations not to collect Value Added Tax (TAX) on their supplies of goods and services before it becomes obligatory for them to do so in line with a staggered timeline for its implementation in the Sultanate.

The warning comes as social media is rife with complaints from consumers lamenting that they are forced to bear the 5 per cent tax from relatively small and mid-sized establishments as well.

Source Omanobserver

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