In March, the Tax Authority published guidance clarifying the country-by-country (CbC) reporting requirements of multinational corporations (MNEs) operating in Oman. The guide provides a general overview of the CbC reporting requirements as part of the BEPS Action 13 report.
According to the guide for an entity to be in scope for CbC for any period it must be part of an MNE group that passes the following tests:
- any Group that includes two or more enterprises that are tax residents in different jurisdictions, or includes an enterprise that is resident for tax purposes in one jurisdiction and is subject to tax with respect to the business carried out through a permanent establishment in another jurisdiction; and
- have a total consolidated revenue that is equal to or more than OMR 300 million for the financial year preceding the reporting year concerned.
The CbCR report includes quantitative and qualitative information about the MNE Group. Information such as revenues, profits, employee count, business description, etc. should be reported under three tables. The guide further provides a step-by-step description of the process of filing the CbC report and the notifications related thereto in the OTA portal.
The list of jurisdictions with which Oman may exchange CbC reports can take place was specified in an OTA circular of April 2022 are as follows:
Argentina, Belgium, Chile, China, Colombia, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, China, Iceland, India, Indonesia, Ireland, Isle of Man, Italy, Japan, Jersey, Kazakhstan, Korea, Latvia, Luxembourg, Malaysia, Malta, Mauritius, Mexico, Netherlands, New Zealand, Nigeria, Poland, Portugal, Saudi Arabia, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sweden, Switzerland, and the United Kingdom.
