Year one calendar
What filings will a new Oman company face in year one?
The situation
Typical duties include tax card, VAT (if registered), WHT, SPF monthly, Omanisation register and the annual tax return.
The law
- 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
- VAT Law, Royal Decree 121/2020: 5 percent VAT; mandatory registration above OMR 38,500, voluntary above OMR 19,250; quarterly returns due 30 days after the quarter
- Social Protection Law, Royal Decree 52/2023: Omani staff: employer 14.5 percent, employee 8 percent; ceiling OMR 3,000 for pension and injury; pay by the 15th of next month
- Art. 19, 22 and 25, Labour Law RD 53/2023: Register of Omani staff updated each January with an Omanisation plan; vacancies posted within 30 days; extra duties at 25 or more workers
What it means for you
Set dates: SPF by the 15th monthly, VAT 30 days after each quarter, WHT monthly when paying foreigners, the Omani register in January and the return four months after year end.
What to do
- Build a calendar.
- Assign owners.
- Review monthly.
- Plan the audit.
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