At GSPU, one of the specialized areas that we focus on is our international tax consulting. Within this general framework, our team members offer a variety of different services that fall under this category.

1. Cross-Border Transitions:

One of the services that we offer is aid and guidance in the structuring of your cross-border transitions and how to make them tax-efficient. This service can help you structure your growth strategically and get ahead.

2. Tax Planning:

Related to this strategic structuring approach, another service within our tax division is our general international tax planning services. Taking on cross border business, and the taxes that accompany this, is an important decision that requires a strong foundation of planning; especially with regards to taxes. This service will help you gain a solid understanding of the Tax impact on your business of entering into new markets or of growing further within the same market.

3. Double Taxation Treaties:

Within our international taxes department we offer consultancy on double taxation treaties. Double taxation treaties can prove to be complicated, but our services will help you understand them and be able to make the deals and decisions that will best benefit you and your business.

4. Certificates:

Another important aspect of conducting international taxes comes in the form of gaining particular certificates, especially value added tax certificates and tax residency (domicile) certificates. At GSPU, we work closely with the Ministry of Finance to help you attain these needed documents.

Taxes and general charges are based on justice and the development of the national economy. Imposition, amendment, and abolition of public taxes, shall only be by virtue of a law and no one is exempted from paying all taxes or part thereof except in the circumstances prescribed in the law. It is not permissible to introduce a new tax, fee or any right of any type whatsoever with retrospective effect.

Oman is like many other Gulf States where a little taxation is applied to the residents. Only those individuals who have the relevant visa are considered to have the residency status and are allowed to work in the nation, so the question of residency with regard to taxation does not arise.,

Oman has a number of tax treaties in place with other neighboring countries. The revenue of taxation in Oman mostly comes from the corporate tax and if you are running a business in the country of Oman, you are subject to taxation regardless of your country of origin. Companies are subject to all the taxes that do not apply to individuals such as capital gains, income on dividends etc. Let us go through the various taxes Oman is subject to.

• • • Withholding Tax
    • Customs Duty
    • Corporate Tax

Oman withholding tax is applied 10% at source for payments of the following services to the foreign persons that do not have income attributed to a permanent establishment in Oman. They are:

• • • Royalties
    • Management fees
    • Consideration for research and development
    • Consideration for the use of or right to use a computer software
    • Dividend on shares or interests

Any taxpayer, Ministry, organization, public institution or other legal entity and administrative service must pay the amount after deducting the standard 10% withholding tax in Oman and shall submit to the Secretariat General within a period not exceeding fourteen days from the end of the month in which the payment or the account was made, on the form prepared for this purpose.

Oman has been the part of GCC union since its establishment in 2003 with an aim to remove the custom and trade barriers between the GCC countries. The GCC member states apply a Common Customs Law and a Unified Customs Tariff with a standard customs duty rate of 5% of goods cost, insurance and freight value, with a few exceptions, such as tobacco and alcoholic goods being subject to a customs duty rate of 100%. This law does not levy the export customs duty. Also, the goods imported into Oman’s free zones and special economic zone may be exempt from the customs duty which means it does not have any Oman tax rate.

The corporate income tax is charged on all sources of income of any type of business entities which earn and realize in Oman. The Oman companies are also liable to tax on their overseas income. Oman’s tax law seeks to tax the worldwide income of Oman entities and the Oman-source income of branches and other permanent establishments. The corporate tax rates are as follows:

• • • First OMR 30,000 of taxable income: 0%
    • Above OMR 30,000: 12%

With our experienced team of tax professionals, we take pride in the reliability and effectiveness of our Tax Services. May that be local tax filing and follow-up, or an extensive tax planning for a multinational group of organizations with extensive cross-border transactions, with us, the clients would experience an unprecedented quality and reliability of our tax services.

• • • Tax Filing
    • Tax Clearance Certificates
    • Tax Compliance Services – Provisional & Annual Returns
    • Tax Representations
    • Tax Planning
    • Tax Consultancy