Oman: Changes to Corporate Income Tax and Withholding Tax Regime
In an effort to increase tax revenue and improve tax administration, the government of Oman has enacted significant changes to its tax laws, including:
- An increase in the corporate tax rate from 12% to 15%
- The removal of the tax exemption/standard deduction on the initial Omani Rial / OMR 30,000 ($78,000)
- A withholding tax at a rate of 10% on dividends, interest and other services
- The introduction of a self-assessments regime for filing tax returns
These changes are effective February 27, 2017, the publication date of the Official Gazette.
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