Taxation in Oman

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Tax on tobacco in Oman will soon be doubled, senior officials at the Ministry of Health announced on Sunday. Set to be levied at 200 per cent, this increase is a part of the Sultanate’s recently launched National Multisectoral Plan for Prevention and Control of Non-Communicable Diseases (NCDs).

Possessing a tax card has been made compulsory for all companies, which are required to pay corporate income tax in Oman as per the amended tax law.

In an effort to improve its finances, which have been marred by low oil prices, Oman is planning to come up with the most extensive tax reforms till date as part of its commitment to balance the budget by 2020.

Oman’s taxation system in general will be amended including the tax rates that will be levied on companies during the coming period, the secretary general of taxation, Ministry of Finance said.

Oman’s government has confirmed it has no plans to begin taxing expats following reports that Saudi Arabia may impose income tax on foreign residents.

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