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

Jersey signs income tax treaty with Oman
Jersey announced that it had signed an income tax treaty with Oman on 28 October 2026. The treaty promises greater
Read More
Rwanda: Cabinet approves income tax treaty with Oman
Rwanda’s Cabinet approved the income tax treaty with Oman on 26 October 2026. Signed on 8 September 2026, the
Read More
Oman, Philippines conclude income tax treaty negotiations
Oman and the Philippines concluded negotiations on an income tax treaty on 15 October 2026, according to a post by the
Read More
Bangladesh seeks CEPA with Oman to boost trade, investment
Bangladesh has proposed a Comprehensive Economic Partnership Agreement (CEPA) with Oman, Commerce Minister Khandakar
Read More
Oman, Angola sign income tax treaty
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
Oman and Rwanda signed an agreement on income tax treaty with respect to taxes on income and the prevention of tax
Read More