Registration
Income Tax:
It is a procedure carried out by institutions or corporates (whether individuals or companies) operating in the Sultanate of Oman to identify themselves with the Tax Authority and comply with tax requirements. Registration is done through the electronic portal of the Tax Authority, and the taxpayer is given a tax file number.
Registration for income tax is mandatory for any establishment engaged in economic activity in the Sultanate of Oman, within a period not exceeding 60 days from the date of commencement of the activity or from the date of its registration with the Ministry of Commerce, Industry and Investment Promotion.
After registration, the establishment is committed to:
- Submit annual tax returns
- Pay the tax due in accordance with the law
- Maintain financial records and documents
VAT:
It is a procedure that obliges the individual or institution when their annual revenues from taxable supplies reach or are expected to reach 38,500 OMR, which is known as the mandatory limit for registration.
Registration is done through the electronic portal of the Tax Authority, and the taxpayer is given a tax registration number.
After registration, the taxpayer is obliged to:
- Collect VAT at a rate of 5% from customers on taxable supplies
- Submit tax returns on time
- Maintain tax records and invoices
- Optionally register if annual income is 19,250 OMR or more to benefit from refunds on tax paid on purchases
Excise Tax:
It is a procedure that obliges individuals or corporates who import, produce, store, or deal in specific goods harmful to health or the environment, such as:
- Tobacco products
- Energy drinks
- Soft drinks
- Sweetened drinks
- Pork
- Alcoholic beverages
Registration is done through the electronic portal of the Tax Authority, and a registration number in the Excise Tax is issued. It is mandatory before engaging in any activity related to excise goods and includes:
- Declaration of quantities produced, imported, or stored
- Payment of the excise tax due
- Compliance with inspections and reviews by the Tax Authority
