We, Qaboos bin Said, the Sultan of Oman
after perusal of Our decree dated 1 October 1974 regarding the profit and income tax rates on Petroleum Development Oman, and in particular articles 1 and 2 of it,
and in pursuance of public interest,
have decreed as follows
Article 1
The profit rate imposed in article I(c) of the mentioned decree is hereby increased from 16.67% (sixteen point sixty-seven per cent) to 20% (twenty per cent).
Article 2
The tax rate imposed in article II(3) is hereby increased from 65.8% (sixty-five point eight per cent) to eighty per cent.
Article 3
This decree must be published in the Official Gazette, and comes into force on 1 April 1976.
Issued on: 27 Rabi Al-Awwal 1396
Corresponding to: 28 March 1976
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 100 issued on 15 April 1976.