Quarterly VAT return, payment and refund claims

Every quarter we reconcile output VAT on sales and input VAT on purchases and imports, check the invoices you rely on, file on the TMS portal and pay by the 30 day deadline. If you are in a refund position we prepare the separate refund claim.

OMR 150Quarterly

For: VAT registered businesses in Oman: traders, service firms, contractors, importers and exporters.

What we need from you

Sales register with VAT by rate (5 percent, zero rated, exempt)
Output VAT boxes
Original purchase tax invoices
Input VAT can only be deducted with valid evidence
Customs import declarations
Import VAT and deferral
Credit and debit notes
Adjust output and input VAT
Reverse charge purchases from abroad
Self account VAT
Previous return and any carried forward credit
Opening position
Bank account details on TMS
Refunds

What we discuss

Did you import goods or buy services from abroad this quarter?
Import VAT and reverse charge need entries
Do you make exempt supplies, such as some financial or residential property supplies?
Input VAT may need apportionment
Is the return in a refund position?
Refunds need a separate claim within five years
Did you find errors in an earlier return?
Correct them before the Tax Authority finds them
Are all purchase invoices full tax invoices with your VAT number?
Simplified or wrong invoices can block input VAT

What we file

Prepare the VAT reconciliation
Sales OMR 250,000 x 5 percent = OMR 12,500 output; input VAT on purchases and imports OMR 7,200; payable OMR 5,300
File the VAT return
Pay the VAT due
File refund claim if in a refund position

What you get

Filed return and payment receipt
Quarterly reconciliation pack
Exceptions list (missing invoices, supplier errors)

The law

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 Source
VAT Law, Royal Decree 121/2020 (penalties): Late return fine OMR 500 to 5,000; late payment 1 percent per month; wrong declaration 1 to 25 percent of the difference; evasion 300 percent Source
VAT Law, Royal Decree 121/2020 (records and time limits): Keep records 10 years (15 for real estate); assessment within 5 years, 10 if registration was late Source
VAT Law, Royal Decree 121/2020 (refunds): Refund application within five years after the quarter end for a net refund position Source

Questions people ask

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