Oman’s tax authorities announced their intention to introduce e-invoicing. Authorities say that e-invoicing will initially be voluntary. Reports indicate that the goal is ultimately to introduce mandatory e-invoicing in Oman, but no firm timelines have been set.
Oman introduced VAT in 2021. The Sultanate rolled out VAT registration requirements in phases, starting with large companies.
E-invoicing and VAT compliance
More countries are introducing mandatory e-invoicing. Tax authorities say that e-invoicing makes VAT fraud and evasion easier to detect.
If you have the latest compliance technology in place, e-invoicing can also make managing VAT simpler and faster.
For a detailed explanation of how e-invoicing affects VAT compliance, see our handy guide.
Preparing for e-invoicing in Oman
We still need to see the details of the e-invoicing proposal. For businesses operating in Oman, the timeline for mandatory e-invoicing is especially important from a compliance perspective.
However, businesses can also take steps to anticipate the new regulations. Ensuring you have the appropriate VAT compliance software will help you manage your obligations and file valid electronic invoices when required.
As the world’s VAT compliance and recovery specialists, VAT IT can provide the technology and support you need to optimise your VAT compliance and adapt as regulations change.
