Oman postpones mandatory B2B e-invoicing system to 2025
Oman's Tax Authorities announced the postponement of the mandatory B2B e-invoicing system to an unspecified date in 2025, citing technical challenges. Initially, the system was set to be introduced on a voluntary basis in April 2024, with
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Egypt approves tax treaty with Oman
The Egyptian Cabinet approved the ratification of the income tax treaty with Oman on 9 July 2024. Signed on 22 May 2023, the treaty specifies that dividends, royalties, and fees for technical services are liable to a maximum withholding tax rate
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Oman introduces draft personal income tax law, proposes taxing high-income earners
The Shura Council of Oman presented a draft income tax law to the State Council on 27 June, 2024. The initial draft of the income tax law, introduced in 2022, proposes a tax on high-income earners in the Sultanate. The government has been
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Kazakhstan approves tax treaty with Oman
In a move set to boost international economic relations, Kazakh Prime Minister Oljas Bektenov signed Decree No. 404, empowering Finance Minister Madi Takiev to finalise an income and capital tax treaty with Oman. Earlier, Kazakhstan's government
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Oman Tax Authority extends CRS report deadline
The Oman Tax Authority has declared that the deadline for submitting reports under the Common Reporting Standard (CRS) for the fiscal year 2023 has been extended to 30 June, 2024. Earlier, the Tax Authority Chairman's Decision No. 78/2020,
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Oman, Ireland sign tax treaty
Officials from Ireland and Oman signed an income tax treaty on 30 May, 2024, marking the first agreement of its kind between the two nations. The agreement was signed by Nasser Khamis Al Jashmi, Chairman of the Tax Authority, and Gerard
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Oman: Tax authority issues important notice on CRS reporting and re-registration
On 9 April 2024, the Oman Tax Authority issued an announcement regarding the accessibility of its Automatic Exchange of Information (AEOI) system for submitting Common Reporting Standard (CRS) reports. The Tax Authority has issued a reminder to
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Oman introduces tax exemptions for sectors of economic diversification
On 8 September 2022, the Oman Tax Authority (OTA) announced some conditions and procedures for obtaining income tax exemption for companies operating in sectors contributing to economic diversification. The exemption is offered only to companies
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OECD: Peer Review Report on Dispute Resolution Mechanisms in Oman
The second stage peer review report on Oman’s implementation of the minimum standard under BEPS Action 14 (making dispute resolution mechanisms more effective) was published by the OECD’s Inclusive Framework on 13 September 2022. The report
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Oman: Implementation of Digital Tagging of Excisable Goods
The Oman Tax Authority has announced new timelines for the phased implementation of its Digital Tax Stamps project – an initiative designed to help regulate the import, trade and sale of excisable products, as well as to optimise the collection of
See MoreOman publishes guidelines to clarify CbC reporting obligations
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
See MoreOman further clarifies about suspension of CbC reporting
On 7 July 2021, Oman’s tax authority published an announcement suspending the requirement to file a country-by-country (CbC) report until further notice On 14 July 2021, tax authority clarifies that the CbC reporting suspension is applicable
See MoreOman suspends Local filing requirements
On 7 July 2021, the tax authority of Oman published an announcement suspending the country-by-country local filing requirement until further notice. All relevant entities operating in Oman are required to continue to comply with all other
See MoreOman introduces economic stimulus plan
On 9 March 2021, the government of Oman declared an economic stimulus plan in response to the Covid-19 pandemic. The stimulus plan contains several tax incentives as follows: A 5-year income tax exemption for new businesses having main
See MoreOman extends CbC notification deadline
In reference to the Decision No. 79/2020 on Rules for Country-By-Country Reporting that specified designated persons (MNEs), information to be provided, retention periods, and the procedures to be followed in this regard; and after considering that
See MoreOman: BEPS MLI in force
The Multilateral Convention to execute tax agreement related measures to prevent base erosion and profit shifting (MLI) entered into force for Oman on 1 November 2020. As regards the double taxation agreement (DTA) between Oman and the other
See MoreOman extends relief provisions for late payment and late filing of tax returns
The tax authority of Oman declared extensions of certain tax relief measures due to the Covid-19 Outbreak. Previously, in response to the pandemic tax authority has granted relief from the imposition of interest for late payment of tax or late
See MoreOman introduces CbC Reporting requirements
On 27 September 2020, Oman published Ministerial Decision No. 79/2020 in the Official Gazette announcing the introduction of Country-by-Country (CbC) reporting and notification requirements for multinational entity groups (MNE groups) headquartered
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