Oman’s VAT laws come into effect on 16 April 2021. 5% VAT will apply on goods and services traded in Oman. The 5% rate also applies to goods that are imported into the Sultanate. VAT
Seventy countries have already implemented, or are taking steps towards implementing, the OECD’s standards and guidance for digital VAT, according to the OECD Secretary-General’s report to G20 Finance Ministers. The reports adds that an additional
VAT is complex. Managing VAT compliance at a global level is exponentially more complex. But there’s more to it than that. VAT compliance is specialised. There are numerous rules and regulations and exceptions. Those regulations
VAT in a foreign country. Why would your business need to register? It’s much more likely than you might suppose. You don’t need to be a massive multinational company with branches around the world. Perhaps
Resident VAT registration is VAT in a country in which your company is based. Once you generate revenue past a certain threshold, your business will be required to register for VAT, in accordance with the
When should you register for VAT? In many cases, that’s not a difficult question to answer. Registering for VAT will often be a legal requirement in the country in which you are doing business. Most
Many countries have implemented VAT on digital services. And we can be sure that many more are likely to follow suit. Unfortunately, many digitally-focused startups and small and medium-sized businesses are unaware of their VAT
Technology has made global VAT compliance significantly simpler and more cost-effective. However, there is an additional, more urgent, reason for companies to adopt a tech approach to VAT compliance. Increasingly, global tax offices require businesses to
Technology has fundamentally changed the way global VAT is enforced. But here’s the good news: digital technology also makes it much simpler to meet your VAT compliance obligations. By contrast, failing to adopt the latest
The future of VAT compliance is digital. Not just in the sense that technology makes VAT compliance easier and more efficient. The future of VAT compliance is digital because tax authorities around the world are