We, Qaboos bin Said, the Sultan of Oman
after perusal of Royal Decree 26/75 Issuing the Law Governing the Administrative Apparatus of the State and its amendments,
Royal Decree 47/81 Issuing the Corporate Income Tax Law,
and Royal Decree 77/89 Issuing the Law of the Profit Tax on Commercial and Industrial Establishments,
and in pursuance of public interest,
have decreed as follows
Article I
Commercial and industrial establishments owned or exploited by an Omani natural person alone and companies wholly owned by Omani nationals are hereby exempted from the profit tax on commercial and industrial establishments and from the corporate income tax due for the tax years 1989 and 1990.
Article II
This decree must be published in the Official Gazette.
Issued on: 29 Rajab 1410
Corresponding to: 25 February 1990
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 426 issued on 3 March 1990.