Tax card for small companies

The situation

All taxpayers must obtain a tax card; registration is due within 60 days of starting business.

The law

• Income Tax Law (tax card): All taxpayers must hold a tax card; number shown on contracts, invoices and tax letters
• Royal Decree 118/2020 amending the Income Tax Law: Single return within four months of year end from 2020; tax card registration within 60 days of starting business and updates within 30 days

What it means for you

Even at 3 percent, the company needs a tax card to file and pay. Registration is due within 60 days of starting business, and the number must appear on invoices and contracts. Update any change in details within 30 days.

What to do

1. Register the tax card.
2. Add the number to invoices.
3. File yearly.
4. Update changes in 30 days.

Related

• Small company return deadline
• Raising capital above OMR 50,000
• Gross income just over OMR 100,000
• Hiring the sixteenth employee
• Small company 3 percent conditions
• Foreign owned company and the 3 percent rate