The Sultan of Oman has reportedly issued Royal Decree No. 121/2020, which approves the law for the introduction of a VAT regime including a standard VAT rate of 5% that will apply on most goods and services. As a member of the Gulf Cooperation Council (GCC), Oman committed to introducing a VAT regime in 2018 but repeatedly postponed implementation. The Royal Decree is expected to be published in the Official Gazette in the near future and the VAT regime is to apply from April 2021 (6 months a…