Oman: The State Council approves corporate tax rate increase from 12% to 15%

15 January, 2016

The State Council of Oman approved the proposed changes to the Income Tax Law, Foreign Capital Investment and Insurance Companies Laws for immediate implementation by Royal Decree, on 12 January 2016. The Chairman of the Economic Committee said

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Oman: Lower house approves multiple changes to income tax law

29 December, 2015

On 23 December 2015, the lower house of the Council of Oman has approved a number of changes to Income Tax Law 2010, proposed by the Oman Government, for immediate implementation. The Government of Oman has not yet officially published

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Oman: IMF comments on economic and tax issues

06 May, 2015

The IMF has held consultations with Oman under Article IV of its articles of agreement and has issued a report on the discussions. Oman’s non-hydrocarbon growth rate was 6.5% in 2014 but is estimated to fall to 5% in 2015 and to 4.5% in later

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DTA between Oman and Portugal signed

30 April, 2015

On 27 April 2015 Oman and Portugal signed an income tax treaty for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. No further details are currently

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Spain: Cabinet Approves The Tax Treaty With Oman

02 March, 2015

The Cabinet has approved, on 27 February 2015, the signing "ad referendum" of the Convention between the Kingdom of Spain and the Sultanate of Oman to avoid double taxation and prevention of fiscal evasion with respect to taxes on income and

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Oman – No New Taxes In 2015 Budget

22 February, 2015

In the budget for 2015, all income from the projects taxes and fees will increase by 28.5% and there was a discussion for introducing possible new taxes or increased tax rates.  However neither issue was proposed in the

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Oman calls for forceful implementation of International Financial Reporting Standards (IFRS)

27 October, 2014

Recently, financial report by Middle East official was setting out principles on the significant developments and key changes to keep up with the standards of International Financial Reporting Standards (IFRS). The importance of capitalizing on the

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Japan: Details of the Japan and Oman DTT Agreement available Now

04 September, 2014

Japan and Oman Income Tax Treaty (2014) has been signed on 9 January 2014 and details of the treaty available now. The treaty generally follows the OECD Model (2010). The maximum rates of withholding tax are: 10% on dividends (5% if the

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Oman – Spain DTA

11 May, 2014

Oman and Spain signed a double taxation agreement (DTA) on April 30, 2014. No further details of this agreement are currently

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Oman and Spain sign DTA

23 February, 2014

The double taxation agreement (DTA) signed between Oman and Spain was submitted to the Economic and Financial Committee of Oman's lower house of parliament on February 11,

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Japan-Oman: Sign DTA

09 January, 2014

Japan has signed a Double Taxation Agreement (DTAA) with Oman on 09 January 2014. The agreement provides a 10% withholding rate on dividends (5% with a 10% shareholding), interest and royalties in the source

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Oman: Tax remittances

18 December, 2013

Oman government shall impose tax on the remittances sent by foreign workers to their home countries. This is advised by the economic and financial committee of Oman. In order to ease growing pressure on the state budget, two percent tax is to be

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Oman: Clarification of tax rules

18 November, 2013

The Oman government has clarified that the tax rules in Oman require the following: Within three months from the date of incorporation or commencement of activities, taxpayers must be registered with the Omani tax authorities and if there is any

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Oman: VAT could be introduced by 2016

01 August, 2013

For implementing a value added tax (VAT), the Oman government is considering a framework. This would be generally in line with guidance from the Gulf Cooperation Council, an organization of which Oman is a member. VAT system could be implemented in

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Tax treaty signed between Germany and Oman

17 February, 2013

A double taxation treaty between Germany and Oman was signed in Muscat on 15 August 2012. This follows the conclusion of a bilateral investment promotion and protection treaty which was signed in 2010. The double taxation treaty generally follows

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Oman ratifies the pending Oman-Germany DTA

28 November, 2012

Oman's Sultan, Qaboos bin Said al Said ratified the pending Oman-Germany double taxation agreement (DTA) on November 25,

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Oman and the Czech Republic to begin negotiations towards a bilateral DTA

24 May, 2012

On June 5, 2012, Oman and the Czech Republic will begin negotiations towards a bilateral double taxation agreement (DTA), the Czech Embassy in Riyadh has

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Oman and Netherlands DTA will in force from 1 January 2012

01 December, 2011

It has been reported that the income tax treaty between the Sultanate of Oman and the Kingdom of the Netherlands has been approved by both the Omani and Dutch parliaments. As a result, the treaty will enter into force on January 1, 2012. The treaty

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