Oman has confirmed that it is going to roll out value added tax (VAT) in compliance with the GCC unified agreement in 2020.
In a statement, the country’s Ministry of Finance said that the government is working on completing procedures to issue legislation pertaining to the taxation system.
It said that the Secretariat General of Taxation was completing the administrative, technical and technological equipment in preparation for applying VAT.
The UAE and Saudi Arabia implemented a five per cent VAT on January 1, 2018.
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