On 12 October 2020, Sultani Decree 121/2020 in relation to the implementation of value added tax (“VAT”) in Oman was issued (the “VAT Law”). Following the introduction of VAT in Saudi Arabia, the United Arab Emirates and Bahrain, Oman will be the fourth GCC country to implement VAT in the region.
- Basic food commodities.
- Medical care services and associated goods and services.
- Education services and associated goods and services
- Requirements for people with disabilities.
- Supplies for charities.
- Financial services.
- Undeveloped lands (vacant lands).
- Resale of residential properties.
- Passenger transport services.
- Renting out real estate for residential purposes.
- Supply of medicines and medical equipment.
- Supply of investment gold, silver and platinum
- Supplies of international transport and interchange of goods or passengers, and the supply of associated services; the supply of marine, air and land transportation means intended for the transport of goods and passengers for commercial purposes, and the supply of goods and services associated with transport.
- Supply of rescue and aid aircraft and vessels
- Supply of crude oil, petroleum derivatives and natural gas.