- Oman Tax Authority (OTA) has issued Resolution 521 of 2023, bringing changes to the executive regulations of the VAT Law.
- Charitable organizations can now seek refunds for VAT payments made for non-profit purposes and adhering to Omani laws.
- Individuals or entities can initiate the refund process by submitting a request to the tax authority on a quarterly basis.
- The refund request must be accompanied by a specific form, relevant invoices, and a receipt indicating the deduction of the tax amount.
- The tax authority has 30 days to make a decision on the refund request and must return the approved amount within 15 days.
- The resolution also addresses the recovery of taxes paid on imported goods and tax collected on re-exported goods.
- Similar documentation requirements and timelines apply for these refund scenarios.
Source: timesofoman.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
