Oman introduced VAT at a rate of 5% in April 2021. When it did so, it became the fourth member of the GCC to introduce a VAT system: Saudi Arabia, Bahrain, and the United Arab Emirates having already done so. ADDA is being used by properties for community management in Oman including the service charge collections, supplier ledgers, and other financial transactions.
And therefore, ADDA is always on the lookout for any new compliance requirements by the regulatory authority so that customers don’t have to go through a lot of hassle to get their requirements met.
ADDA was VAT ready in JUST ONE WEEK for communities in Oman.
Community management in Oman with VAT
- ADDA has robust accounting modules with automatic VAT calculation and ready to print VAT filing reports.
- ADDA also offers the options to recall any previously generated invoices without VAT and generate VAT invoices in its place.
- The best part is that ADDA configures all this with no additional cost to our customers.
In UAE, ADDA was the first VAT ready community management software when VAT was introduced in January 2018.
The speed at which the VAT requirements were released is a testimony to the fact that ADDA is your long time partner in community management in Oman too!
Please contact us for any kind of assistance you need for your community’s tax compliances and implications!