The Oman Tax Authority (OTA) has published a VAT Taxpayer Guide on the Profit Margin Mechanism, which is primarily meant for taxable persons engaged in the buying and/or selling of used goods as part of their usual activity. --- Overview The Profit Margin Mechanism is a special calculation method which may be applied to supplies of Used Goods by a trader in those goods. The mechanism enables the seller to pay output tax on the difference between the goods' selling price and purchase price (i.e. their profit margin), instead of on the full amount of consideration received. This is most...