Dr Darwish bin Ismail al Balushi, Minister Responsible for Financial Affairs, has said that Oman's law for the Value Added Tax (VAT) is currently under preparation.
In a statement to Oman TV, he said that the law will be equally applied to everyone in terms of tax payments. "The companies in Oman will need some time to ensure its execution as the draft is still prepared by the government."
Al Balushi also said exemption will be made on some goods and services as per the agreement with the GCC countries.
On Monday, the government said VAT will be implemented in Oman from 2019 and the introduction of 'Selective Tax' from the middle of next year.
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