Tax TIES: Oman - Overview and introduction | KPMG | GLOBAL
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Oman - Overview and introduction

Tax TIES: Oman - Overview and introduction

Taxation of international executives

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For individuals, the Sultanate of Oman does not levy any taxes on personal income, including income from capital gains, wealth, death or property. No personal income tax is levied on the income of residents or non-resident individuals. There are no foreign exchange restrictions or levies. There are no sales or value-added taxes.

Taxation in Oman is levied, broadly on taxable income at 15 per cent , on businesses and companies. The Income Tax Law No. 28/2009, was promulgated on 1 June 2009. Under the said Income Tax Law, Oman moved to a global tax system replacing the territorial system of tax which was the basis of taxation under the previous Law of Income Tax. The Executive Regulations to the Income Tax Law detailing how certain provisions of the Tax Law are to be applied was issued by Ministerial Decision 30/2012 and became effective from 29 January 2012. Several changes were made to the Oman’s Tax Law by Royal Decree 9/2017 issued on 19 February 2017 by virtue of which tax rate was increased from 12 per cent to 15 per cent for financial years beginning 1 January 2017 .

Th e official currency of Oman is the Omani Rial (RO) and, approximately, one Omani Rial is equal to USD2.60.

Oman – Topics

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