Financial and Banking News
Oman To Levy Taxes On Omani-Owned Companies
Omani-owned companies are to be liable for corporate taxes starting from1994. Taxation will start at 5%, rising to 7.5%, depending on the size of thecompany and its profits. Oman is ahead of other Gulf countries in raisinggovernment revenues through taxation and realistic charges for utilities, andtaxation of local companies has been expected for some time. Companies will pay5%...