Vat Return Filing in Oman - 200+ Omani VAT Consultants

The list of records that an Oman VAT-registered business must keep includes daily transactions, tax invoices, inventory, records of intra-GCC sale of goods and services, imported and traded goods and services, customs transactions, and any other records mentioned by the authority.

A VAT-registered business shall submit the VAT return and make payment of VAT liability every quarter electronically to the Sultanate of Oman Tax Authority.
The due date for filing a VAT return and payment of VAT liability is 30 days from the end of the quarter. Moreover, the due date for filing a VAT return and VAT payment will be extended to the next working day if the Oman VAT return filing due date happens to be a public holiday or a weekend. In case you are late in VAT payment, you shall pay additional tax at 1% per month or part thereof.

Yes, it is a must for every registered business to file and submit VAT returns in Oman.

To file a VAT return in Oman, businesses must first log in to the official Oman Tax Portal and complete the required registration details. After accessing the return form, they need to provide information on all taxable supplies, including domestic supplies, exports, imports, reverse charge purchases, output VAT, and input VAT credit, along with the calculation of total tax liability.
If a refund is due, the Tax Authority may review or audit the return before issuing the refund. Once all details are correctly filled in and supporting documents are attached, the VAT return can be submitted online.

Under the Oman VAT Law, supplies for VAT return filing are classified based on their tax treatment. Standard-rated supplies are subject to 5% VAT. Zero-rated supplies are taxed at 0%, but businesses can still claim input tax credit, such as in the case of exports and international transport.
Exempt supplies do not attract VAT, and input tax cannot be claimed on them, including certain financial, educational, transport, and residential rental services. Out-of-scope supplies fall entirely outside the VAT system and are not subject to VAT.

The details required for filing a VAT return in Oman include comprehensive information about the taxable person and their business activities. This typically covers the general details of the taxable person, along with the Tax Identification Number (TIN) of the business.
The return must specify the tax period for which it is being submitted and include the value of both taxable and exempt supplies. Additionally, the value of imported goods, the output tax, and the input tax must be reported. The return should also reflect the total tax due for the reporting period. Finally, any other details as determined by the Oman Tax Authority (TA) may also need to be provided to ensure full compliance.

In Oman, businesses may face significant penalties for non-compliance with VAT regulations. The fine for late filing of VAT returns ranges from OMR 500 to OMR 5,000. Similarly, failing to display the VAT certificate at the business premises or not maintaining records, accounting books, and archives according to prescribed guidelines can attract penalties within the same range of OMR 500 to OMR 5,000.
More severe penalties apply in cases involving incorrect VAT claims or registration issues. For instance, claiming VAT refunds based on false documents, failing to reimburse an incorrect VAT refund, not obtaining VAT registration within the specified timeline, or not displaying prices of goods and services at the business premises can lead to fines ranging from OMR 1,000 to OMR 10,000. These measures underscore the importance of adhering strictly to VAT compliance requirements in Oman.

Typically, the standard VAT return filing period is on a quarterly basis. The return filing periods are January to March, April to June, July to September, and October to December. We are the best consulting company for VAT filing services in Oman.

The Oman VAT return filing due date is within 30 days following the end of the quarter. For example, the last date to file VAT Return for the April to June tax period is 31st July.

Yes, it is possible to file a revised VAT return in Oman if any corrections are required for the return that has already submitted. However, this needs to be done within 30 days of the error or omission being discovered.

Yes, there is a precise format in which the VAT returns need to be submitted by all the registered businesses.

Yes, you need to declare the details related to the import of goods in the VAT return form in Oman. However, there are separate sections related to the import of goods in which the values need to be mentioned specifically.