Deadline for filing transitional excise tax return extended

MUSCAT, JUNE 29 – The Secretariat General for Taxation (SGT) — part of the Ministry of Finance — has extended by 15 days the deadline for businesses to file the transitional Excise Tax return, originally set for June 30, 2019. The transitional return is due for businesses that held any stock of Excise Goods on the introduction of the Excise Law. A select category of goods deemed harmful to health, notably tobacco, carbonated drinks, energy drinks and ‘special purpose goods’, are subject to the 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) has announced in the run-up to the launch of the new tax.
“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 had stated 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 include: local producers of Excise Goods, importers of Excise Goods, wholesalers, supermarkets, retail shops, hotels and restaurants.
“The format of the transitional return and the exact details required have not yet been made public. However business should look to the import declaration form to determine the information that SGT will require,” said leading tax and audit advisory services firm Deloitte Oman in an advisory to the business community.