The Egyptian House of Representatives approved the ratification of the income tax treaty with Oman on 7 October 2024.
Both countries apply the credit method for the elimination of double taxation. The agreement specifies that dividends, royalties, and fees for technical services are liable to a maximum withholding tax rate of 10%, with interest subject to a 12% tax rate. Dividends and interest owned beneficially by a contracting state’s government are taxable solely in that state.
Earlier, The Egyptian Cabinet approved the ratification of the income tax treaty with Oman on 9 July 2024. The treaty was signed 22 May 2023, in Cairo, Egypt. An earlier agreement was signed in 2000 but never came into force.
The treaty will take effect once the ratification instruments are exchanged, with its provisions generally applying from January 1 of the year after it comes into force. Oman ratified the agreement in June 2023.
