Records to be Maintained – Oman VAT Law

Time Limit for Maintaining Records

ARTICLE (70) - OMAN VAT LAW

The Taxable Person shall retain Tax Invoices, accounting records and books, and customs documents related to the import and export of Goods and any other documents that are related to implementing the provisions of this Law in accordance with secure and reliable means. The aforementioned shall apply for (10) years following the end of the Tax Year in which the Tax Return is filed

The aforementioned time period extends to (15) years for Tax Invoices, accounting records and books and customs documents related to real estate.

Records to be Maintained

ARTICLE (156) - VALUE ADDED TAX EXECUTIVE REGULATIONS

The Taxable Person must keep -in particular- the following records:

1. Daily Record in which the daily transactions related to the Taxable Person’s activity are recorded according to their chronological and sequential manner and keep all the documents that enable the control of the validity of these activities.
2. The Master Record which monitors the opening of accounts and the transactions based on this account, provided that there is a separate account for each type of supplies (taxable or exempt).
3. The inventory record, where the inventory items, the budget and the total count are recorded.
4. Records and documents related to the supplies of imported and exported goods and services.
5. Records and documents related to intra GCC supplies of goods and services.
6. Records and documents related to all Customs transactions.
7. All documents proving taxable supplies at Zero Percent (0%) rate according to the provisions of Articles (51) and (54) of the Law.
8. All tax invoices and other documents issued by the Taxable Person.
9. All tax invoices and other documents received by the Taxable Person.
10. Records that include information necessary to determine the correct Tax treatment.
11. Any other records determined by the Authority.

ARTICLE (157) - VALUE ADDED TAX EXECUTIVE REGULATIONS

Accounting records and books and documents may be kept electronically through applying automated accounting systems by the Taxable Person that prove the accounting transactions, and issue the required documents and details on paper when requested, provided the systems meet the following conditions:

1. The systems used for such purposes do not allow any adjusting entries, changes, deletions or additions to the accounting records and books, invoices and documents after the recorded date of the transactions.
2. The electronic copy should be a clear copy and true copy of the original paper records.
3. To have available an operating manual for these systems when requested by the Authority.

ARTICLE (158) - VALUE ADDED TAX EXECUTIVE REGULATIONS

Without prejudice to the provisions of Article (144) of these Regulations, The Taxable Person may keep accounting records and books, invoices and documents in any language, provided that they are made available in the Arabic language, upon the request of the Authority.