Type: Legislation
Oman is on the move with its tax procedures. The Oman Tax Authority has unveiled plans for Value Added Tax (VAT) electronic invoicing, starting with voluntary implementation in April 2024. Transition to mandatory usage is anticipated by October 2024.
During April to September 2024, VAT-registered entities can opt into the voluntary e-invoicing launch. Subsequently, from October 2024, e-invoicing becomes obligatory.
The approach might include Continuous Transaction Control e-invoicing, where invoices undergo tax authority validation before recognition.
Remember, Oman introduced VAT in April 2021, following fellow Gulf states. Saudi Arabia adopted e-invoicing by the end of 2021, while UAE is expected to follow suit in 2025.
Effective date: October 2024
