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@securetag
Do you know what is going to happen to the business in Oman after 16 April 2020? If not aware yet, use this opportunity to understand the Tax Law which is going to be introduced in the Sultanate of Oman by the Royal Decree No.121/2020 to implement VAT in Oman at 5% from April 2021.
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We make your Account Simple...Our Services,�
Accounting
Book Keeping
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https://www.securetagaccounting.com/oman/
Secure Tag Accounting & TAX Consultancy is one of the best accounting and online vat registration firms in Oman & other GCC Countries. Ranges of Services are from VAT Registration to VAT Return Filing.
How to Register for VAT in Oman.. We make your Account Simple
Secure Tag Accounting & TAX Consultancy is one of the best accounting and online vat registration firms in Oman & other GCC Countries. Ranges of Services are from VAT Registration to VAT Return Filing.
Anya is live and ready to show you everything. Watch her strip, dance, and perform exclusive shows just for you. Interact in real-time and make your fantasies come true.
Free to watch • No registration required • HD streaming
VAT FREE REGISTRATION
Secure Tag Accounting is an Auditing Companies in Oman. They have fully Financial oriented professionals. This qualified Tax registration Oman team to deal in a high-quality manner.
Oman VAT - Do you know what is going to happen to the business in Oman after 16 April 2020 ?
What is OMAN VAT! Do you know what is going to happen to the business in Oman after 16 April 2020? If not aware yet, use this opportunity to understand the Tax Law which is going to be introduced in the Sultanate of Oman by the Royal Decree No.121/2020 to implement VAT in Oman at 5% from April 2021. VAT and Business: Everyone in the business has to have a basic understanding of Tax law before it actually comes into practice. The law passed in Oman is going to impact every business from small scale to medium and large scale. From the smallest shops in the village Sumhan, Barkka to the very big multinational hypermarket brand Carrefour and Lulu in Muscat, Salalah, Sohar, Nizwa, and other states is going to see the change in the billing and pricing. VAT is becoming the new normal in the Gulf and which started from the countries like UAE, Saudia, and Bahrain first, and now that is going to be a reality in the Sultanate of Oman too. As VAT has already been introduced to 3 other GCC countries such as UAE, KSA since 2018 and Bahrain in the year 2019, Oman is going to be the 4th country to introduce the VAT in this coming new year, 2021 in almost the same way with few differences and specification. First of all, it’s going to be applicable all over the Sultanate of Oman, and its impact is going to be visible in all the major states like Muscat, Sohar, Salalah, Nizwa, Sur, Ibra, and Baraka, only named few states, and all the villages of Oman in multiple ways and the registration process is going to start by January 2021, and the VAT law will be effective from April 2021, and the filing of the first return is to be in the month of June 2021, according to recent news reports and notification published in the official website of Oman Tax Authority. 5% VAT in Oman Most of the goods and services come under the 5 % rate and this rate is becoming a symbol of the tax rate in Oman. Even then, there are services and goods with zero rates like Some Foodstuff, and Medicine and medical equipment, and Export of goods to a destination outside Oman, and Re-exporting of Goods that have been temporarily imported into Oman, and Supply of goods to or within customs duty suspension, and Export of services to a Customer outside Oman, except covered under exceptions, and International Transport and related services, and supply of investment gold, silver, and platinum, and Sea, Air and Land mean of transport used for commercial transport and related goods and services, and Supply of rescue aircraft, rescue boats, and auxiliary ships, Supply of crude oil and its oil derivatives, and natural gas. There are services and goods under exempted categories like Financial services, and Provision of health care, and associated goods and services, and Provision of education, and associated goods and services, and on Undeveloped lands (bare lands), and The resale of residential real estate, and Local passenger transport, and Renting real estate for residential purposes. Oman VAT Registration process
The process of Oman VAT registration is expected to start in January 2021 in all the states of Oman from southern states like Salalah to northern states like Kasab and Musandam. No place and no business is free from VAT law directly or indirectly, so everyone irrespective of their kind of business, and the variety of product and services, and nationality they belong to has to be aware of the law and the VAT registration process in advance to be better prepared. The mandatory registration threshold of Oman Vat is likely to be Omani Rial (OMR) 38,500, and the voluntary registration to be set at OMR 19,250 yearly. Few features of Oman VAT are the Exemption from VAT registration for those businesses making wholly zero-rated supplies, and the Businesses having multiple entities within the same corporate group can form a VAT group for their convenience, and Businesses with no place of residence and registered address in Oman will have to compulsorily seek VAT registration if they make any taxable supplies or sales of good and services in anywhere in the territory of Oman. VAT Penalty for Defaulter As Oman is a very systematic and automated country in many of the daily administration and operations, VAT law is also going to introduce most IT-enabled ways, and where strict adherence is enabled by implementing strict penalty provisions in case of violation of non-fulfillment of VAT obligations. Some of the points are significant to mention here, such as a business owner who deliberately does not register for VAT under the prescribed format and within the specified period is punishable with one to three years imprisonment or with a fine of 5,000 OMR to 20,000 OMR. The challenging period for every businessman after the Corona pandemic in the whole Gulf and especially in Oman is visible and a reality. In addition to that, non-fulfillment of necessary taxation requirements in the form of VAT registration and update of the accounting system under professionals may bring more difficult time ahead. So it is highly recommended to follow the professional advice to make the business strong and systematic with available expertise and resources and be prepared well in advance to accept Oman VAT as an opportunity to scale up the business to a higher level.
Secure Tag Accounting is a VAT registration in Oman. Value Added Tax is an indirect tax.
Secure Tag Accounting is a VAT registration in Oman. Value Added Tax is an indirect tax. They have an experienced Tax Consultants in oman.
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Vat Registration in Oman | Securetag Accounting LLC
About Us
We provide best service for our valuable clients.Secure Tag Accounting & VAT Consultancy is a group of fully Team of professionals with the relevant expertise and infra-structure. We have a team of professionally qualified staffs always keen to deal in a high quality manner. We are Happy to help the Businesses in OMAN, We have our presence in Major cities of OmanEspecially in Muscat, Sohar, Salalah, Ibri, Nizwa, Dhofar Region etc. We Specialize for the services like Accounting, Book Keeping, Consultation, Advisory, Management Auditing.
https://www.securetagaccounting.com/oman/