ALERT: Taxation Incentives Offered To Private Sector In Oman To Expire Shortly

Muscat: The Tax Authority has announced the imminent expiry of tax incentives offered to private sector establishments for taxes due during 2020.

The incentives were announced earlier by the Supreme Committee tasked with tackling developments resulting from the Coronavirus (COVID-19) pandemic with a view to handling the economic impacts of the pandemic and the resumption of business activities.

In a statement received by Oman News Agency (ONA) today, the Tax Authority urged all taxpayers to submit their declarations and disclosure accounts about the fiscal year ending 31 December 2019 and any other accounting period or fiscal year ending after this date.

The Tax Authority also called for the settlement of all due taxes payable for this tax year and before by 31 December 2020, at the latest, to avoid any fines or additional tax that might result from non-submission of tax declarations or disclosure statements.