Tax
From The Report: Oman 2014
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OBG’s partner, PwC provides information relating to tax in Oman, including coverage of income tax laws, exemptions and administration. This chapter contains a viewpoint from Kenneth MacFarlane, Country Senior Partner, PwC.

Articles from this Chapter

Overview

Open and accessible: Changes to tax practices will be the new way forward
OBG
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As a result of being heavily dependent on oil resources, the sultanate of Oman has actively pursued development that focuses on diversification, industrialisation and privatisation, with the objective of reducing the oil sector’s contribution to GDP to 9% by 2020. Taxation will be a major factor as Oman moves forward with its plan for development. With a relatively low corporate income tax rate, no personal income tax and no value-added tax (VAT), Oman has attracted significant domestic, regional…

Viewpoint

Kenneth Macfarlane, Country Senior Partner, PwC, on rising to the challenge
OBG
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As Oman’s manufacturing sector develops, it will need to adopt new strategies to overcome challenges and gain a competitive edge. Oman’s economy has been dependent on oil and gas exploration and related industries for the past several decades. While this sector has attracted significant investment and provided for the modernisation of infrastructure, Oman is mindful that oil and gas reserves are finite and that current oil wealth must be used in part to fund economic diversification. To that…