Oman will not impose VAT in 2020

Jawad chairing The 56th GCC Finance Under-Secretaries' meeting held in Muscat on Oct 2019 (ONA)

هذه الصفحة متوفرة بهذه اللغة: العربية

1 Jan 2020

MUSCAT (WAF)- Oman will not be implementing the Value-Added Tax (VAT) in 2020, a high ranking official at the Ministry of Finance told WAF News.

Mohammed Jawad, the acting undersecretary of the Ministry of Finance, confirmed that Oman’s budget for 2020 doesn’t include VAT as a source of revenue. 

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Asked whether Oman will be introducing the new tax in 2020, Jawad said “No”.

In 2019, Oman joined other GCC countries in imposing sin tax to five products. The tax involves a 100% levy on tobacco, pork, alcohol and energy drinks and a 50% tax on carbonated beverages. The tax on alcohol was later reduced to 50%.