On 18 October 2020, Oman published Royal Decree No. 121/2020 in the Official Gazette, which promulgates the Value Added Tax Law. The Decree will enter into force 180 days after its publication (April 2021). As previously reported, the law provides for the introduction of a VAT regime including a standard VAT rate of 5% that will apply on most goods and services. The VAT Law also includes several VAT exemptions, including for: Financial services; Health care services and associated goods and services; Education services and associated goods and services; Undeveloped land (bare land); Resale of residential properties; Local passenger transport;...