Tax
From The Report: Oman 2015
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This chapter contains an overview of the tax framework in which local and foreign investors operate. It also contains an interview with Kenneth Macfarlane, Country Senior Partner, PwC.

Articles from this Chapter

Overview

Understanding the tax framework
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Tax is a key component of Oman’s effort to move forward with its development. Foreign companies and individual investors may establish operations in one of the following forms: Limited liability company (LLC):Foreign companies and individuals are generally required to have an Omani partner with a minimum 30% shareholding in order to form a LLC. Minimum share capital of OR150,000 ($388,410) is required to register an LLC with foreign participation. GCC companies that are 100% owned by GCC…

Analysis

Free zones and special economic zone to boost investment
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Located on the south-east coast of the Arabian Peninsula, Oman enjoys a strategic location as a shipping and trading centre for markets in Europe, Africa and Asia. To realise the benefits of this important location, the government promulgated Royal Decree 56/2002, which provides a general legal framework for the development of free zones (FZs). Currently, Oman has three FZs (Sohar, Salalah and Al Mazunah), as well as a special economic zone (SEZ) in Duqm. The development of FZs and SEZs is in line…

Interview

Kenneth Macfarlane, Country Senior Partner, PwC: Interview
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Interview: Kenneth Macfarlane How can Oman use targeted tax reform to enhance its attractiveness as an investment destination? KENNETH MACFARLANE: One issue we always have with foreign investors wanting to enter Oman is the uncertainty of the tax treatments. They expect definitive answers, but unfortunately there are none; we can only give advice based on what we have experienced in the past. Therefore, what we believe would be useful, and what we have suggested, is some form of formal advanced…