• Tax

    In collaboration with a leading local accountancy firm, OBG provides an overview of the tax system, including information on corporate, sales and income taxes. Other topics include repatriation of profits, capital movements, investment incentives, Customs duties and free zones.
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Decreased revenue flows from oil and gas exports are prompting GCC states to look to diversify their economies and income streams and to consider other forms of taxation with increasing urgency. Oman’s tax authorities are focusing on increasing their tax revenues, and may be seen to be applying the current tax legislation more rigorously than...

 

A range of tax regulations exists in Oman and varies according to organisational type and provenance.

 

What benefits have come out of the national economic diversification programme, Tanfeedh?

Chapter | Tax from The Report: Oman 2017

This chapter contains an overview of the tax framework in which local and foreign investors operate, including a rundown of the expected changes to corporate tax rates, a look at the incentives on offer in the special economic zones and a glance ahead at plans for the proposed GCC-wide value-added tax. This chapter contains an interview with Omar Al Sharif, Country Senior Partner Oman, PwC...

Despite ongoing economic pressures associated with the drop in oil prices, Oman’s diversification strategy and efforts to enhance wider revenue streams are beginning to bear fruit, as witnessed by continued growth in the non-oil sector despite dropping incomes and wider regional instability.

 

REGIME CHANGE PROGRESSING: Changes in Myanmar’s tax regime continued to make progress in FY 2015/16 and 2016/17. Of all these changes, the new Special Goods Tax Law (SGTL), which was promulgated on January 18, 2016, is the most remarkable. Now the SGTL will regulate taxation on 16 items termed “...