Following the issuing of the Implementing Regulations to the VAT Law earlier this month, the services which will be exempt from VAT have been clarified. Oman Decision No. 53/2021 implements Oman Sultani Decree No. 121/2020. Banking and financial services supplied by banks and financial institutions licensed by the Central Bank of Oman or any of the competent authorities will be tax-exempt for VAT purposes or zero-rated for VAT purposes. Healthcare supplies and services provided by licensed medical institutions will also be tax-exempt for VAT purposes or zero-rated for VAT purposes. Services provided by educational institutions licensed by the relevant education authorities in the Sultanate will be tax-exempt for VAT purposes or zero-rated for VAT purposes. VAT will come into force in the Sultanate on 16 April.