Oman

Modules

The following modules related to the Omani localization are available:

Name

Technical name

Description

Oman - Accounting

l10n_om

Omani fiscal localization package, complete with the local chart of accounts, taxes, tax report, and fiscal positions.

Oman - Accounting Reports

l10n_om_reports

Accounting reports for Oman.

Note

The module automatically installs core configurations. A manual update may be required for missing elements or updates.

Localization overview

The Omani localization package provides the necessary accounting setup for companies operating in Oman, including a pre-configured chart of accounts, taxes, fiscal positions, and a standard tax report format. It ensures alignment with Oman VAT regulations and Royal Decree requirements.

The Omani localization package provides the following key features to ensure compliance with local fiscal and accounting regulations:

  • Chart of Accounts: based on Omani standards, with mapped account groups and default account mappings.

  • Taxes: standard 5% VAT, zero-rated domestic as well as exports, exempt, imports, and reverse charge taxes.

  • Fiscal Positions: automated tax adjustments based on customer or supplier registration status.

  • Tax Report: structured according to the Oman VAT return format, as issued by the Tax Authority.

Chart of accounts

The Omani chart of accounts is based on the local rules and regulations. This includes pre-configured account groups and mapped default accounts. Use the predefined structure or create new accounts, as needed.

Note

Accounts are grouped under relevant categories such as assets, liabilities, income, and expenses in line with local standards.

Taxes

The following Taxes, included in the Omani VAT system, are available by default with the Omani localization package:

  • Standard Rate 5%: Applies to the sale of most goods and services within Oman.

  • Zero-Rated Supplies (0%): Applies to essential supplies where the seller can still reclaim input VAT.

  • Exports (0%): Applies to the supply of goods and services that are exported outside Oman.

  • Exempt Supplies: Applies to supplies that are not subject to VAT, and for which the supplier cannot reclaim input VAT on related purchases.

  • Reverse Charge Mechanism (RCM): Applies to taxable businesses in Oman receiving services or goods from non-resident suppliers not registered for VAT in Oman.

  • Import VAT (5%): Applies to the importation of most goods into Oman, charged at the customs point of entry.

Tax report

The VAT return provides a consolidated overview of the taxable sales and purchases, VAT collected and paid, and the total amount owed or refundable for the reporting period.

Important