Royal Decree 9/2017, which was issued by the Sultan of Oman on 19 February 2017, was published in the Official Gazette on 26 February. The Decree enacts major tax reforms, which are summarized as follows:
- An increase in standard corporate tax rate from 12% to 15%;
- The removal of the OMR 30,000 tax-free threshold;
- The removal of the 10-year tax exemption for mining, export of locally manufactured goods, hotels and certain tourism activities, agriculture, fishing, and other industries, with on…