Omani businesses dealing in goods covered by the new Excise Tax are required to file a Transitional Excise Tax return on excisable commodities held for commercial purposes on the eve of the National Excise Tax Law coming into force on June 15, 2019.
A select category of goods deemed harmful to health, notably tobacco, carbonated drinks, energy drinks, and ‘special purpose goods’, will attract a new excise levy, ranging from 50 – 100 per cent, effective from June 15.
“All businesses that hold a stock of Excise Goods for commercial purposes at the time of Excise Tax implementation will need to file a ‘one-time’ Transitional Excise Tax return for the goods held for business purposes at midnight June 14, 2019,” the Secretariat General of Taxation (SGT) of the Sultanate stated. “The Transitional Excise Tax return is required to be filed by June 30, 2019 and the business must pay any Excise Tax due upon filing this return,” it added in guidelines published on its website.
The objective behind the Transitional Excise Tax return, according to authorities, is to “capture the Excise Tax due on all the goods that are already released in Oman’s local market when the Excise Tax is implemented”.
Businesses liable to submit a Transitional Excise Tax return will include: local producers of Excise Goods, importers of Excise Goods, wholesalers, supermarkets, retail shops, hotels and restaurants.
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