Total goods imported: Here, the total value of all imports, including exempt/zero-rated goods and imports on which VAT has been paid at customs.Import of goods (Postponed payment): If you have availed postponement option that allows you to defer the VAT payment (return filing date) on import of goods, you need to mention the total value of such imports here.Out of scope supplies are to be excluded. Here, the total value of goods and services exported outside of Oman on which zero-rated VAT is levied. Purchases from outside of GCC subject to Reverse Charge Mechanism: Here, mention the total value of standard-rated supplies received from outside GCC which are subject to reverse charge mechanism (RCM).Purchases from the GCC subject to reverse charge mechanism: ): Currently left blank, until GCC rules apply on such transactions.Purchases subject to reverse charge mechanism Supply of goods as per profit margin scheme: The total profit margin for any supplies of goods as per the profit margin scheme needs to be captured.Supplies of services, tax levy shifted to recipient inside GCC (supplies made by you that are subject to Reverse Charge Mechanism): Currently left blank until GCC rules apply to such transactions.Supplies of goods, tax levy shifted to recipient inside GCC (supplies made by you that are subject to Reverse Charge Mechanism): Currently left blank, until GCC rules apply to such transactions.The total value of such supplies made in the Sultanate needs to be mentioned here. Supplies of goods/services tax exempt: Certain notified supplies are exempt from Oman VAT.Supplies of goods/services taxed at 0%: The total value of zero-rated supplies of goods and services in the Sultanate, excluding exports of goods or services, needs to be captured.The value needs to be VAT-exclusive since the portal is designed to auto calculate it in ‘VAT due (OMR) filed Supplies of goods/services taxed at 5%: Here, the total value of standard-rated supplies of goods and services made in the Sultanate, including deemed supplies need to be mentioned.The details and type of supplies that needs to be captured under each of these sections are explained below: Supplies in the Sultanate of Oman Section-wise details of Oman VAT return format Purchases subject to reverse charge mechanism (RCM).The VAT return format prescribed by Oman Tax Authorities (TA) is broadly categorized into 7 sections as mentioned below: In this blog, let us understand the VAT format in detail. The authorities have prescribed the VAT return format that acts as a self-assessment of the VAT due or refundable for a given tax period. The VAT return is a statement that needs to be submitted quarterly by all the VAT registered businesses to the Tax Authorities (TA) at the end of each tax period. Businesses registered under Oman VAT are mandated to file VAT returns in a format prescribed by the Tax Authorities (TA).
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