Record and Book Keeping Requirement under Oman VAT

The value of supply or taxable value is defined as the total value of the consideration excluding the VAT. Let’s understand the value of supply in Oman VAT.

The place of supply is determined depending upon the destination of goods. Let's understand in detail how to determine the place of supply of services under Oman VAT.

Place of supply concept helps businesses to assess tax applicability in the case of cross-border transactions. Let’s check the rules for determining the place of supply of goods under Oman vat.

Input VAT deduction allows businesses to recover the VAT paid on the purchases or expenses. Let’s understand the concept of input VAT deduction in Oman.

RCM is a concept under which the recipient or buyer of services has to pay tax to the government unlike the forward charge, where the supplier has to pay the tax. Check the details of RCM in Oman VAT.

Input VAT deduction allows businesses to recover the VAT paid on purchases or expenses. Let’s check out the list of expenses on which input VAT deduction is blocked.

The crux of the VAT system in Oman is the concept of input VAT deduction. Understand the type of purchases or expenses on which you can claim input VAT deduction.

Zero-rated supplies refer to the taxable supply on which VAT is charged at a zero rate. Let’s check out some of the food items subject to zero-rate VAT in Oman.

All the registered businesses need to file VAT returns every quarter by furnishing the details of supplies in the online portal. Let’s check out how to file Oman VAT returns in detail.