On 1 January 2017, the Ministry of Finance of Oman issued a statement on the State’s General Budget for the Fiscal Year (FY) 2017. The budget sets forth prospects for revenue collection from tax and other similar sources. CIT laws are expected to include an increased CIT rate from 12% to 15%. The government is thinking to launch an excise tax on specific merchandise in 2017 together with the other Gulf Cooperation Council (GCC) countries. Tobacco and alcohol are planned to be taxed at 100% and soft drinks at 50%.
Related Posts
Oman, Angola sign income tax treaty
September 22, 2026
Oman and Angola signed an income tax treaty to eliminate double taxation and prevent tax evasion and avoidance on 21
Read More
Oman, Rwanda sign income tax treaty
September 10, 2026
Oman and Rwanda signed an agreement on income tax treaty with respect to taxes on income and the prevention of tax
Read MoreOman updates VAT regulations for mandatory e-invoicing
August 11, 2026
Oman has amended its Value Added Tax Law Regulations to introduce a two-phase mandatory electronic invoicing regime,
Read MoreOman: Tax Authority issues new corporate tax expense deduction rules
July 28, 2026
The Oman Tax Authority (OTA) has introduced new rules on when certain business expenses can be deducted under the
Read More
Kazakhstan ratifies income tax treaty with Oman
June 12, 2026
Kazakhstan President Kasym-Zhomart Tokayev signed the law for the ratification of the income and capital tax treaty
Read More
Kazakhstan: Senate approves income and capital tax treaty with Oman
June 08, 2026
The Senate of Kazakhstan approved the income and capital tax treaty on 28 May 2026. The agreement seeks to prevent
Read More