The Oman Tax Authority has confirmed that a Royal Decree has been issued which implements a domestic minimum top-up tax, with a minimum effective tax rate of 15%, for multinational enterprise (MNE) groups in Oman, provided that these groups generate annual revenues of around OMR 300 million (EUR 750 million).
The initiative is in alignment with global rules to combat base erosion and profit shifting (BEPS).
Saeed bin Ahmed Al-Shanfari, Director General of Tax Policies at the Tax Authority, stated to the Oman News Agency that the law seeks to bridge the gap between local taxation and the globally mandated 15% rate. It aims to ensure that tax revenues remain within the Sultanate of Oman while promoting economic competitiveness through the implementation of a fair tax system.
Al-Shanfari emphasised that the Tax Authority will prepare the necessary regulations and executive decisions to implement the law. This will include defining calculation bases and application mechanisms to ensure ease of compliance for targeted companies.
This announcement was made by the Oman News Agency on 31 December 2024.
