Oman has recently introduced Taxes in the country. Excise Tax was introduced with effect from 15th June 2019 and Value Added Tax (VAT) is effective from 16th April 2021.

The rate of Excise tax for carbonated drinks, is applicable at 50% and it’s 100% applicable for tobacco, alocohal, pork (including its products) and energy drinks. But, at the same time the VAT rate is applicable at just a minimal rate of 5%, which is the lowest tax rate among other parts of the world.

As VAT is a newly adopted concept in the region, it requires qualified and experienced Tax professionals’ advise to support the businesses especially, while complying in the initial stages of this transition. Premier Brains provides experienced chartered accountants as their tax advisors. Tax Experts have relevant industry specific experience in taxation complying with international standards.