Companies can pay VAT on behalf of customers in Oman
By: Times News Service
Muscat: Businesses in Oman can fully or partially cover the value added tax (VAT) their customers are required to pay, according to an official from the Tax Authority.
“Institutions, shops, and/or merchants have the freedom to choose to bear the value added tax, which is determined at five per cent for taxable goods, instead of the customer bearing this cost, whether it is the entire amount, or just a part of the tax,” he said.
“There are no penalties for institutions, shops and merchants that choose to bear this tax,” he added.
Changes on Oman s horizon for 2021
By: Times News Service
Muscat: A number of measures designed to help Oman grow will come into effect from Friday, January 1.
In 2021, single-use plastic bags will no longer be available in stores, as part of the government’s plans to safeguard the environment for the future generations. Expats will also be able to move between companies in a freer manner, with the no objection certificate (NOC) being scrapped.
Electricity and water subsidies could also be steadily phased out, and one Rial out of every OMR100 earned by Omanis every month will go to the Job Security System.