We understand Oman Taxation Better as we are around here for very long
Taxation in Oman is pretty new thing. VAT was introduced in 2021 whereas personal income tax has just been announced and would be implemented starting 01 January 2028.Those who have never p[aid any Income Tax in their life needs to start tax planning right now so their taxation matters are in control when the personal income tax kicks in.
Taxation in Oman is new phenomenon hence everybody and nobody can claim to be expert in Omani taxation. We are witnessing as the taxation regime in Oman evolves.
Corporate Income Tax
Corporate Income Tax is applied at flat 15% rate without any basic exemption limit and is applicable to all companies.
Personal Income Tax
Personal Income Law has been pronounced recently though it will be applicable w.e.f. 01 January 2028
Witholding Tax
Any outward remittance of for the specified services attracts 10%. withholding tax that needs to be deducted and paid to Oman Tax Authority.
Excise Tax
This is special tax levied on liquor, cigarettes, cigars, energy drinks where the rate varies from 50% to 100%. It is payable at the time of import itself.