- Oman VAT exempts key financial services, including loans, credit facilities, deposits, financial instruments, securities, and life insurance, but not fee-, commission-, or discount-based financial services.
- Exempt supplies also include licensed healthcare and education services, plus directly related items for patients/students; courses outside an approved curriculum remain taxable.
- Public transport and public taxis are exempt (except taxis operated by specialized companies), and residential property leased continuously for at least three months under a valid tenancy agreement is exempt.
- Undeveloped land and resale of existing residential property are exempt, while the first sale of residential property and sales of hotels, tourist complexes, and commercial buildings are taxable.
- VAT exemptions apply to specified imports, including diplomatic/international organization goods, military and security supplies, charity supplies, returned goods, certain personal belongings and used household items, travelers’ personal baggage and gifts within limits, and eligible disability equipment imports under defined conditions.
Source: timesofoman.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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