- A new electronic invoicing system will be introduced in Oman in 2023, with businesses required to comply with the new regulations.
- The details of the proposal have not yet been released, but it is expected that the system will be based on models already in place in other Gulf Cooperation Council countries.
- The new system is expected to make it easier to detect VAT fraud and evasion, while providing greater transparency in commercial transactions. VAT-registered taxpayers will need to adapt their business processes to comply with the new regulations.
Source Cleartax
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