How to File Oman VAT Return?

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Yarab A | Updated on: August 2, 2021

VAT return is a self-assessed statement to be filed by all the VAT registered businesses every quarter.  The VAT return form in Oman is a summary level statement. This implies that VAT registered businesses are required to submit the consolidated details of supplies such as total sales, total purchases, output VAT, input VAT and VAT payable.

Though VAT return filing is at a consolidated level, businesses are required to show the break-up of supplies into the following categories:

  • Standard rated
  • Zero rate Supplies
  • Exempt Supplies
  • Reverse Charge Supplies
  • Intra GCC Supplies
  • Imports

How to file Oman VAT return?

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

1.SignIn and Register VAT Return

The first step is to visit ‘https://tms.taxoman.gov.om/portal/web/taxportal/’ and sign into the taxpayer’s account. Next, navigate to VAT returns and select ‘Add new return’. The basic details of taxpayer are expected to be auto filled.

2.Furnish the details of VAT return

Here, the taxpayer needs to furnish the details of all the supplies, output VAT and input VAT. This section is categorized into 7 parts, in which the break-up of supplies such as domestic, exports, imports, etc. need to be furnished.

The following are the categories of Vat return:

  1. Supplies in the Sultanate of Oman - The total value of all the outward supplies such as standard-rated supplies made in the Sultanate, deemed supplies, zero-rated, exempt and GCC supplies to be mentioned here.

  2. Purchases subject to reverse charge mechanism (RCM): Here, inward supplies (purchases) that are subject to RCM such as purchases from GCC and outside GCC to be furnished.

  3. Supplies to countries outside of Oman: The total value of goods and services exported outside of Oman on which zero-rated VAT is levied

  4. Import of goods: Total value of imports of goods including the postponement scheme to be declared.

  5. Total VAT due: Here, the total VAT due would be auto-populated. You can mention the adjustments if any

  6. Input VAT Credit – Under this section, you need to mention the total value of input vat that you are eligible to deduct. You need to give a break-up of taxable purchases, imports, fixed assets etc

  7. Tax liability calculation: Here, the net liability or refund is determined basis the details furnished in the above section.

To know more about VAT return format and details to be captured in each field, read Oman VAT return format.

3.Claim refund if any

If you are eligible for a refund that is greater than OMR 100, you may tick “I want to be refunded” check box. In this case, you must download the “Taxpayer Checklist” excel sheet from the Tax Authority’s website and attach the completed worksheet with the VAT return form. This is applicable only if are claiming a VAT refund greater than OMR 100.

4. Return submission

After entering all the data and attaching required attachments, if any, click the ‘SUBMIT’ button and say ‘Yes’ to the confirmation prompt. After confirming the prompt, VAT Return will be submitted

How TallyPrime can help in VAT return preparation?

While VAT return filing is just 4 first step process – login, furnish information, payment/refund and submission, the key here is the preparation of return data. By now, you must have gaged the efforts and time required to consolidate the values of different sections and the total value of eligible input deduction.

TallyPrime, a complete business management software, fully supports the Oman VAT requirements. You can issue tax invoices, account for different types of supplies such as GCC supplies, RCM etc. and prepare accurate VAT return data in no time. All you need to do is just record day-to-day transactions, TallyPrime will triangulate your business records to generate the accurate VAT Return, in the prescribed format. Return filing using TallyPrime’s is easy and quick to generate the accurate VAT Return.

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