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On April 23, 2021, the Decree amending, adding and repealing several provisions of the Federal Labor Law, the Social Security Law, the Law of the National Workers Housing Fund Institute, the Federal Tax Code, the Income Tax Law and the Value Added Tax Law, the Federal Law of Employees in the Service of the State, Regulatory of Section b) of Article 123 of the Constitution, the Regulatory Law of Section XIII bis of Section B, of Article 123 of the Constitution of the United Mexican States, in matters of labor outsourcing, was published in the Official Gazette of the Federation.
Display tax registration certificate in a prominent place in your company, says Tax Authority
By: Times News Service
Muscat: Tax registration certificate should be placed in the institution in a prominent place before paying the Value Added Tax (VAT), a top official from the Tax Authority said.
Speaking exclusively to Times of Oman, the official said: “What is being circulated about the application of the value-added tax is limited only to commercial and industrial activities with an income of more than ( OMR 1,000,000 ) annually, is totally untrue, but rather imposes the application of the tax on all activities that display goods subject to value added tax regardless of its monthly income.”
By: Times News Service
Muscat: With Value Added Tax expected to come into effect in Oman on 16 April, 2021, regulations governing its implementation in the Sultanate have been issued by the Tax Authority.
The rules around VAT were issued by Saud bin Nasser bin Rashid Al Shukaily, the chairman of the Tax Authority, who announced Decision No. 53/2021, which concerns the issuance of the Executive Regulations for the VAT Law, which was based on the Value Added Tax Law under Royal Decree No. 121/2020.
The regulations include all of the procedures concerning bringing the provisions of the VAT law into effect. These include procedures for payment, registration, and collection of the tax, and for raising objections or concerns with regards to taxes imposed.
Head of Tax Authority issues Executive Regulations for VAT Law in Oman| Times of Oman timesofoman.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesofoman.com Daily Mail and Mail on Sunday newspapers.
[co-author: Iván Andrade Castelán]
On November 12, 2020, the Federal Executive filed before the Chamber of Deputies of the Congress of the Union the “
Initiative of the Federal Executive that reforms, adds and derogates various provisions of the Federal Labor Law, Social Security Law, Law of Employees Housing Fund Institute, Federal Tax Code, Income Tax Law and Value Added Tax Law.” To date, this proposed amendment is still under discussion and review. Notwithstanding the proposed federal legislation, at the local level additional schemes to regulate outsourcing have been developed.
In Mexico City, on January 1, 2021, the amendment to the Tax Code of Mexico City (TCMX) came into effect, adding an obligation that individuals and legal entities file a notice before the Ministry of Administration and Finance of Mexico City (MAF) when