Oman

Oman: VAT violators to face strict penalties

Oman has envisioned a series of strict penalties for violators of the Value Added Tax (VAT) that will be effective from April 16, 2021.

The minimum penalties stipulated are imprisonment for a period of not less than two months, or a fine not less than OMR 1,000. The maximum penalties reach imprisonment for three years and a fine that does not exceed OMR 20,000. In the event of recurrence, the court may double the fine, and increase the legally prescribed maximum penalty for imprisonment by more than half of this limit.

In the event that the tax payment is delayed, the law imposes a rate of 1% of the value of the unpaid tax for each month of delay or part thereof, starting from the end of the specified period for payment and up to the date of payment.

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Source
Times of Oman
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