Now that 2021 has drawn to a close, we look back at the big tax news from the year and report on the new stories from quarter four.
Across the region, many of the tax measures introduced to help businesses through the COVID -19 pandemic came to an end in 2021. Hopefully, these measures will not be needed again. Value Added Tax (VAT) featured prominently in the tax headlines in 2021. In Oman, taxpayers have been busy with the introduction of VAT, which is now almost complete. Oman opted for a phased implementation of the tax and the final phase, which involves the registration of businesses with taxable turnover between OMR 38,500 and OMR 249,999, runs from 1 December 2021 to 28 February 2022. The businesses concerned will be registered with effect from 1 April 2022.
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