MUSCAT: In a huge relief, Oman’s Tax Authority has suspended some of the taxes until the end of September. In another major decision, the Tax Authority also permitted corporate companies to pay income tax on instalment bases in the wake of coronavirus crisis.
The decision comes after the Supreme Committee directed the Tax Authority to reduce the financial impact on the companies and institutions that are subject to taxes.
In a statement issued on Wednesday, the Tax Authority stated that it suspended additional tax resulting from the non-payment of the income tax due to be paid for the year ended on December 31,2019.
The Tax Authority also said companies can pay taxes of 2019 in instalments. The Authority also suspended fines and penalties resulting from the failure to submit declarations and accounts for the tax year 2019.