VAT calculation on 1.2% deduction clarified Business

VAT calculation on 1.2% deduction clarified

Muscat: The Tax Authority has clarified the method of calculating Value Added Tax (VAT) on invoices and contracts in the oil and gas sector and government units, where 1.2 per cent is deducted for training and employment support purposes. In a public advisory, the Authority said VAT must be calculated on the total invoice value […]