Oman tax authority (OTA) has recently issued a guidance document to provide understanding and for the application of VAT law in the Oli and Gas industry and also to clarify important practical aspects for the industry in Oman.
Primarily, as per the Article 51(7) of the Oman VAT law, the supply of oil, oil derivatives and natural gas are subject to vat at zero-rate (0%) in accordance with the limits, conditions and circumstances determined by the Regulations.
Source: premier-brains.com
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