The State Council and the Shura Council on 26 May 2016 approved the increase of the corporate tax rate on liquefied natural gas (LNG) companies to 55%.
The council also approved the increase of the corporate tax rate on petrochemical and mining companies to 35%. The standard tax rate applicable to all other entities is 12%. The proposed changes need to be ratified by Royal Decree before they come into force.
DTA between Somalia and Turkey signed
World Tax Brief: May 2016
Related Posts
Oman updates VAT regulations for mandatory e-invoicing
Oman has amended its Value Added Tax Law Regulations to introduce a two-phase mandatory electronic invoicing regime,
Read More
Oman: Tax Authority issues new corporate tax expense deduction rules
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
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
The Senate of Kazakhstan approved the income and capital tax treaty on 28 May 2026. The agreement seeks to prevent
Read More
Iraq: Council of Ministers approves tax treaty with Oman
Iraq's Council of Ministers approved the income and capital tax treaty with Oman on 25 May 2026. Iraq and Oman
Read More
Kazakhstan: Mazhilis approves income tax treaty with Oman
The parliament of Kazakhstan published that the lower chamber of parliament (Mazhilis) has approved the Income and
Read More