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 4/74 Issuing the Law on Foreign Crafts and Foreign Capital Investment and its amendments,
Royal Decree 47/81 Issuing the Corporate Income Tax Law and its amendments,
Royal Decree 77/89 Issued the Law of the Profit Tax on Commercial and Industrial Enterprises,
and in pursuance of public interest,
have decreed as follows
Article I
A new paragraph is hereby added to article 4 of the mentioned Law of the Profit Tax on Commercial and Industrial Enterprises, with the following text:
Public joint stock companies wholly owned by Omanis subject to the rates referred to in the first paragraph of this article shall continue in the event that some of their shares are purchased—through the Muscat Securities Market—by a mixed company registered in accordance with the mentioned Foreign Business and Foreign Capital Investment Law.
Article II
All that is contrary to this decree, or in conflict with its provisions, is hereby repealed.
Article III
This decree must be published in the Official Gazette, and comes into force as of the tax year 1994, which begins on 1 January 1994.
Issued on: 12 Muharram 1415
Corresponding to: 21 June 1994
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 530 issued on 2 July 1994.