MUSCAT : The Tax Authority of Oman has introduced new tax rates for corporate and institutional income and updated VAT regulations, reflecting the country’s strategic goals under Oman Vision 2040.
Corporate Income Tax rates:
15%: Applied to the net profit of major companies.
0%: For establishments with a Riyada card, where the owner is actively involved in managing the project or employs Omani workers.
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3%: On the net profit of establishments employing part-time workers.
These rates adhere to the guidelines outlined in Ministerial Resolution No. (14/2019), including all relevant amendments.
VAT rates:
5%: The standard rate on most goods and services.
0%: Applies to specific supplies such as food commodities, medicines, rescue aircraft, gold, silver, oil, and transportation (sea, air, land).
Exemptions include:
Financial services
Local passenger transportation
Residential real estate rentals
Healthcare services and goods
Undeveloped land and resale of residential properties
Education services and related goods
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