Oman postpones 5% VAt introduction to 2021

摘要

Despite the initial plan to implement VAT this autumn, Oman has decided to hold off on that for a few years in order to prepare for the reform more thoroughly.The Omani authorities have moved the date of 5% VAT introduction from September 1, 2019 to 2021. Although reasons for the decision are not clear, this way the Sultanate will have time to better prepare its economy and improve overall consumer sentiments, Metal Expert understands. “The additional time would allow authorities to study the pros and cons of VAT. Delay in implementation will give more time to the corporate sector and people to prepare for the VAT regime,” Hettish Karmani, head of research of Ubhar Capital, said. It is the second postponement, as initially it was planned to impose the new tax from January 2018.