Voluntary Registration Threshold under Oman VAT:
The minimum value of actual supplies, that result in the Taxable Person becoming obligated to register for Tax purposes is OMR 19,250.00
Voluntary Registration Deadlines:
As per the Tax Authority in Oman, the person who may voluntarily register for VAT may apply for registration with the Tax Authority at any time starting from February 1, 2021.
Persons who may register for VAT:
1. Any person who:
has a place of residence in Oman;
conducts a commercial, industrial, professional or other activity in the Sultanate; and
has annual supplies that exceed or is expected to exceed the Voluntary Registration Threshold 19,250 OMR.
2. Any person who:
has a place of residence in Oman
has annual expense that exceed or is expected to exceed , the voluntary registration limit 19,250 OMR, provided the expense relate to a commercial, industrial, professional or other activity conducted in Oman.
How to register with the Tax Authority:
1. The person required to register must visit the Tax Authority's online portal at https://taxoman.gov.om/portal/ar/home
2. Log in via the Digital Certification Service
3. Accurately fill out the VAT registration electronic form
4. Ensure that the data entered is correct and that the application meets all the requirements
5. Submit the application and retain the application receipt
6. The Tax Authority shall review the registration application, and in case it is approved, will issue a VAT registration certificate that contains the VAT registration number and other information such as the registration effective date, tax periods and other important details.
Ramesh Kumar Gupta is a young and dynamic Chartered Accountant and has 21 years of experience in assurance, accounting, audit and business management. He is a member of the Institute of Chartered Accountants of India (ICAI). He is the Managing Partner of Gupta Accountants an accounting and advisory firm in Dubai UAE