Oman’s Personal Data Protection Law (PDPL) under Royal Decree No. 6/2022 applies to all organizations that collect, process, or store personal data in Oman.

An ITGC audit is essentially a review of a company’s general IT controls to ensure the security, reliability and effectiveness of its IT systems.

The Oman Tax Authority has issued Decision No. (388/2025), amending Decision No. (78/2020) on the Automatic Exchange of Financial Account Information (AEOI), to enhance tax system efficiency and align with international transparency standards.

His Majesty Sultan Haitham Bin Tarik has approved Oman’s State General Budget for 2026, marking the first year of the Eleventh Five-Year Development Plan and reinforcing the objectives of Oman Vision 2040.

Central Bank of Oman has implemented the Partial Payment of Cheque Clearing System, effective from 15 December 2025, as part of its efforts to enhance banking efficiency and reduce cheque-related disputes.

Muscat, Oman – India and Oman have signed a Comprehensive Economic Partnership Agreement (CEPA) to boost trade, investment, and services cooperation, strengthening strategic ties between the two nations.

E-Invoicing is rapidly transforming the way businesses manage transactions, compliance, and financial reporting. While many initially view it as a regulatory requirement, its true value goes far beyond compliance.

External audits play a key role in reducing fraud risks within organizations by independently reviewing financial records, transactions, and internal controls. Although auditors are not required to detect every fraud, their structured procedures help reveal unusual patterns, inconsistencies, and weaknesses.

Entrepreneurship is thriving across globe, driven by first-generation founders with bold ideas. However, alongside innovation comes the often-overlooked reality of tax and compliance.

IFRS 19 — titled “Subsidiaries without Public Accountability: Disclosures” — is a new accounting-standard issued in May 2024 by the International Accounting Standards Board (IASB).

Oman’s e invoice journey is part of a wider digital transformation agenda led by the Oman Tax Authority (OTA) to modernise VAT administration and align with global best practices.

In Oman, statutory audits play a central role in ensuring transparency, accountability, and regulatory compliance across the business landscape. Several legal frameworks.

IFRS 18 is the new global financial reporting standard issued by the IASB, bringing a major transformation to how companies present and explain their financial performance.

The role of the Chief Financial Officer is undergoing one of the most significant transformations in modern business.

If you’re an SME owner in Oman and planning to apply for financing, here are the essentials that will actually improve your approval chances, turnaround time, and pricing.

In a rapidly evolving financial landscape, unlisted investments have become an attractive option for investors seeking diversification, higher returns, and exposure to emerging sectors.

Internal audit is often misunderstood as simply checking financial records, but its scope is far broader and far more strategic.

The Tax Authority carried out a field inspection campaign targeting a number of commercial establishments and cafés in Bawshar. The campaign aimed to verify the compliance of taxpayers with the applicable laws and regulations.

As part of its ongoing digital transformation strategy, the Tax Authority is set to unveil the visual identity of the E-Invoicing Project, marking a major milestone in modernizing the national tax system. The initiative aims to enhance efficiency, promote transparency, and strengthen compliance across all tax processes.

Muscat Municipality has rolled out a digital transformation initiative to simplify and modernise the approval process for new building systems, in line with its vision for sustainable urban growth.

The Tax Authority in Oman continues to implement the third phase of its "Tax Culture Initiative" in Al Batinah North and South Governorates, in collaboration with various public and private entities.

Corporate taxremains 15% on taxable income. Omani owned SMEs with annual revenue below OMR 100,000 enjoy a 0% standard rate exemption.

Aligning with OECD/G20 initiatives, Oman has introduced a 15% domestic minimum tax effective January 1, 2025.

Oman has introduced significant changes to its audit and tax landscape in 2025, aligning with global standards and enhancing compliance mechanisms.

Oman continues to make strategic strides in economic diversification, fiscal stability, and sustainable investment.

Oman continues to strengthen its economic and regulatory framework, with several significant developments in February 2025 that impact businesses, investors, and multinational corporations operating in the country.

The updates in ISA 315 (Revised 2019) significantly enhance the auditor's approach to risk assessment, leading to improved audit quality. Here's how auditors should approach each of the key updates, along with relevant analytical procedures:

As we enter 2025, Oman’s Value-Added Tax (VAT) system continues to evolve with updates aimed at enhancing compliance and streamlining tax processes.

When a business in Oman reaches a point where it needs to cease operations, a formal company liquidation process is required to wind up its affairs legally and systematically.

Oman's Financial Services Authority (FSA) has launched the Capital Market Incentives Program (CMIP), a transformative initiative aimed at invigorating investment and broadening participation in Oman's capital market.

Oman’s Financial Services Authority (FSA) has launched the Capital Market Incentives Program (CMIP) to stimulate economic growth and investment. This new initiative offers businesses significant tax incentives and access to new market opportunities.

Since the adoption of IFRS 15, revenue recognition has undergone a significant transformation, challenging entities across various industries to reassess how they account for their transactions.

The International Financial Reporting Standard (IFRS) 18, issued in April 2024, represents a significant development in the presentation and disclosure requirements of financial statements. Effective for reporting periods beginning on or after 1 January 2027, IFRS 18 supersedes IAS 1, marking a pivotal shift in how entities present their financial information.

Implementing IFRS 16, the accounting standard that governs lease accounting, has proven to be a challenging yet critical task for many organizations.

In today’s rapidly evolving landscape, ESG (Environmental, Social, and Governance) expertise is not just an advantage—it's a necessity. Training in ESG is essential across all industries and job functions.

Tags: oman vat, Oman VAT Returns Filing Guide

Tags: oman vat, value added tax Oman

Tags: oman vat, Oman VAT Registration, value added tax Oman

Tags: oman vat, value added tax Oman, VAT Guidelines

Tags: oman vat, value added tax Oman, VAT Guidelines

Tags: Tax, value added tax, vat

Tags: oman vat, VAT Guidelines

Tags: oman vat, VAT Guidelines