Elements of Tax Invoice Issuance – Simple and Comprehensive

Invoice Issuance is one of the important aspects of business. Regarding VAT, all registered businesses must follow the guidelines set out in the invoicing legislation. If you are a company making taxable supplies, you will need to ensure that a tax invoice is issued. Additionally, tax invoices allow a VAT-registered buyer to support a customer’s input tax refund on her invoiced VAT.

Types of His VAT in Oman
Before delving into the essential elements to be recorded on a tax invoice, let’s take a look at the different types of His VAT invoice in Oman.

Tax invoice
A VAT-registered company is required to provide a comprehensive invoice known as a tax invoice in the following situations:

Whether producing products for a taxable or non-taxable individual who will utilize them for personal use
Once determined supplies are made
Upon getting payment, in full or in part, prior to the supply date

streamlined tax bill
A simplified tax invoice is a more condensed form of an invoice that requires less information to be recorded than a comprehensive tax invoice. If a registered business meets the following requirements and receives approval from the authority, it may issue a simplified tax invoice:

Due to the nature of the supplies, prompt tax invoice issue is not necessary (full information from the tax invoice) The supplies’ total worth, excluding taxes, must be less than 500 Omani Rials.

components or aspects of a tax invoice
Companies that issue tax invoices want to make sure that the following items are included on the invoice.

What’s meant by “Tax Invoice”
The date of supply, the date of payment, and the date the tax invoice was issued
The sequential number of the tax invoice
The supplier`s full name, address and tax identification number
The customer’s full name, address and tax identification number, if any, or it’s equivalent in his country of residence if he has no place of residence in the Sultanate
Description of the supplied goods and services
The quantity of goods.
Payment date of advance payment, if any,
Total consideration excluding tax
The applied tax rate

You can also Register for Corporate Tax Registration on our website:

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