We, Qaboos bin Said, the Sultan of Oman
after perusal of the Basic Statute of the State issued by Royal Decree 101/96,
Royal Decree 47/81 Issuing the Corporate Income Tax Law and its amendments,
and the Law of the Profit Tax on Commercial and Industrial Enterprises issued by Royal Decree 77/89 and its amendments,
and in pursuance of public interest,
have decreed as follows
Article I
The phrase “Secretary General for Taxation” is hereby replaced with the phrase “Director of Tax Affairs” provided in article 1 of the mentioned Law of the Profit Tax on Commercial and Industrial Enterprises.
Article II
The text of article 2 of the mentioned Law of the Profit Tax on Commercial and Industrial Enterprises is hereby replaced with the following text:
The tax applies to commercial and industrial enterprises owned or exploited by an Omani natural person alone at the following rates:
– The first thirty thousand riyals of taxable income. Exempt.
– Any excess of taxable income 12%.
Article III
Article 4 of the mentioned Law of the Profit Tax on Commercial and Industrial Enterprises is hereby repealed. All that is contrary to this decree, or in conflict with its provisions, is hereby repealed.
Article IV
This decree must be published in the Official Gazette, and comes into force from the date of its publication, with the exception of article 2 and article 3(1), which come into force from the tax year 1999.
Issued on: 19 Dhu Al-Qa’dah 1419
Corresponding to: 17 March 1999
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 644 issued on 3 April 1999.