VOL. XL
No. 31
4-August-1997
OMAN
Omani Tax Law Revamped
The Omani Government has further raised the threshold at which companies are deemed tobe foreign entities and therefore subject to a much higher rate of taxation. Foreignersmay now own up to 90% of a joint stock company before the higher rate of taxation ofbetween 5 and 50% kicks in. Providing foreigners own less than 90%, the company will besubject to the same rate of tax as a wholly-owned Omani entity - between 5 and 7.5% oftaxable...
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