Oman: Taxation and the 2018 budget | KPMG | GLOBAL
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Oman: Taxation and the 2018 budget

Oman: Taxation and the 2018 budget

Oman’s 2018 budget was unveiled on 1 January 2018.

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With tax law amendments made in February 2017, no further significant amendments are anticipated to the corporate tax regime for 2018. It is expected that regulations will be issued to implement and clarify the recent amendments to the tax law—specifically concerning uncertainties in application of withholding taxes on payments such as service fees, interest, and dividends.

Oman recently joined the base erosion and profit shifting (BEPS) “inclusive framework” (Saudi Arabia and Qatar being the other countries in the Gulf Cooperation Council (GCC) that have joined the BEPS inclusive framework). Thus, Oman has committed to implement the four minimum standards of the BEPS project. This action may also result in Oman being removed from the EU’s “grey list” of non co-operative tax jurisdictions. 

 

Read a January 2018 report [PDF 168 KB] prepared by the KPMG member firm in Oman

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