We, Qaboos bin Said, the Sultan of Oman
being keen on promoting the public interests of Our nation and encouraging economic development in Our Sultanate, and after perusal of the Income Tax Decree issued on 8 December 1971,
have decreed as follows
Article 1
The term “legal person” stipulated in article 1.1 of the mentioned decree means the following:
(a) General partnerships.
(b) Limited partnerships.
(c) Joint ventures.
(d) Joint stock companies.
(e) Limited liability companies.
Article 2
Companies wholly owned by Omani nationals are hereby exempted from income tax for a period of five years from the date of publication of this decree.
Article 3
Companies whose principal purpose is industry, agriculture, and fishing are hereby exempted from income tax for a period of five years starting from the date of their establishment.
Article 4
Companies that contribute to the development of the national economy and whose paid-up capital exceeds 100,000 Rial Omani may be exempted from income tax by a decision by the Minister of Commerce and Industry for a period of five years from the date of their establishment. The exemption period may be extended, provided that it does not exceed another five years.
Article 5
All relevant ministries and directorates shall implement the provisions of this decree.
Article 6
This decree must be published in the Official Gazette, and comes into force on the date of its publication.
Issued on: 1 Jumada Al-Thani 1395
Corresponding to: 11 June 1975
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 82 issued on 1 July 1975.