VOL. XL

No. 29

21-July-1997

OMAN

Omani Firms To Pay 10% Tax On Foreign Royalties

A new decree issued by the Omani Minister of National Economy, Mr. Ahmad bin Abdal-Nabi Makki, published in the Official Gazette on 1 July and effectiveimmediately, states that local companies should pay a 10% tax on funds paid to, orreceived from, a foreign company, according to the English-language daily Times of Oman.According to the decree, local companies incur the tax on the payment of royalty, and forrent,...