- Oman’s plan to introduce mandatory B2B e-invoicing by October 2024 has been postponed to 2025
- Lack of detailed design and system specifications led to the delay
- Proposal to mandate e-invoicing was first announced in 2022 to streamline VAT compliance
- Transition period was initially planned for seven months but was deemed insufficient
- Unclear if Oman will implement a pre-clearance Continuous Transaction Control model
- Oman’s Tax Authority confirmed phased approach to e-invoicing in a formal Request for Information tender
- Oman introduced VAT in April 2021, becoming the fourth Arab Gulf state to do so
- Mandatory e-invoicing offers benefits like improved tax compliance and transparency
- Challenges include the need for businesses to invest in compatible software and train staff on new procedures
Source: rtcsuite.com
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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.
