Sultanate of Oman has always been focal point of historic transition. But the dependence of the economies of GCC region on Oil revenues has led to volatility in oil prices which resultantly led to increase/decrease of the government’s revenue. In an effort towards diversification of country’s resources to non oil revenues the country shifted it’s focus on collecting other type of taxes like Income Tax, which is levied on income generated in Oman on Oil revenues, Withholding taxes wherein the tax deduction is done on any payments made to Non – Residents and Excise tax levied on Excisable goods in Oman an additional step towards diversification from Oil revenues has been done through announcement of implementation of VAT in Oman. Financial Management Companies in Oman who already have expertise in handling different kinds of taxes in different parts of the world are ready to handle this transition and provide expert advice in handling the VAT taxes in Oman.

Financial Management Companies in Oman are also assigned with the task of handling the VAT impact on different operations/processes of companies internally and ensure the smooth transition of implementation of VAT. Financial Management Companies in Oman are also assigned with responsibility of driving the financials of the organizations through different complex, meticulous and diversified legal obligations. Below are the key focus points.