What is VAT and from when is it implemented?
The Value Added Tax (VAT) is an indirect
tax levied on the consumption of goods and services. The Sultanate of Oman has
implemented VAT from 16 April 2021.
Where can I get more
information on VAT?
Kindly visit the
Oman Tax Authority website for more information: https://tms.taxoman.gov.om/portal/web/taxportal/home
Do I need JSRS
Certification for VAT Registration?
As per the
Section 2.3 : ‘Clarifications on Article 93’ on VAT Taxpayer Guide
Oil & Gas
Version 1 -Issued during January 2022 by Tax Authorities of Oman, for the
application of the zero-rate to the upstream and midstream sector TA accepts
Joint Suppliers Registration System (JSRS) to meet the “MEM licensing”
requirement specified under Article 93 (3) only of ER. Contractors providing
products/service to upstream/midstream shall submit their JSRS certification
copy as proof of “MEM certification” for VAT registration.
Is Business Gateways
International VAT registered?
Yes, Business Gateways International is VAT
registered with effect from 16 April 2021. Our VAT registration number is
OM1100015174.
VAT impact National & International companies who are registering on JSRS?
National (Omani) Companies registering for
the first time or renewing their subscriptions will be charged 5% as VAT on the
invoiced amount.
How does VAT affect
Omani companies on JSRS?
a.
As per Oman Government
Guidelines, payments made from 16 April 2021 by National (Omani) Companies for
any serviceson JSRS, will be subject to VAT of 5%.
For more details or assistance, kindly
contact our Accounts Support Team via accounts@businessgateways.com.
How will this affect the JSRS Buyers Community?
All Operators/Buyers/Contractors/Service
Providers engaged in upstream and midstream businesses are advised to complete
their VAT IN before 16 April 2021 and submit their JSRS Registration
Certificates to the Tax Authority as part of their VAT registration. Read
letter from Ministry.
What other services in JSRS are applicable for VAT?
VAT is applicable to
a) JSRS Subscription Fee
b)
GCC Open Tenders Service
c)
JSRS-CMS Success Fee
d)
Other paid features available
on JSRS
Please note: VAT is applicable only to
National (Omani) Companies on JSRS.