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Times of Oman
5 hours ago
- Business
- Times of Oman
Workshop held on tax obligations for private companies in Al Dakhiliyah
Nizwa: Oman Chamber of Commerce and Industry (OCCI) branch in Al Dakhiliyah Governorate, in cooperation with the Tax Authority, on Wednesday organised a workshop titled: "Tax Rights and Obligations Applicable to Private Companies and Establishments." The workshop aimed to educate private sector representatives on key tax obligations and applicable regulations in the Sultanate of Oman. It sought to enhance compliance with the tax system, thereby contributing to financial stability and promoting the sustainability of public revenues. The workshop covered several topics presented by specialists from the Tax Authority, including Oman's tax system, income tax, excise tax, and value-added tax (VAT). Additionally, the workshop provided detailed explanations of the registration procedures within the tax system, the duties of companies, and the mechanisms for submitting tax returns. This workshop is part of the Oman Chamber of Commerce and Industry's efforts, in collaboration with the Tax Authority, to raise tax awareness within the business community and foster a compliance-friendly environment that keeps pace with the evolving economic and financial system in the Sultanate of Oman.
Libya Herald
17-07-2025
- Business
- Libya Herald
Tax Authority holds symposium entitled 'Tax on e-Commerce'
The Libyan Tax Authority, under the directives of its Head, organized a scientific symposium last Tuesday (15 July) entitled 'Tax on Electronic Commerce', in cooperation with Al-Quds Al-Ahliyya University. The symposium included the participation of several specialists in tax and technical affairs, faculty members from several Libyan universities, in addition to the presence of a group of members of the House of Representatives and the High State Council, at a leading hotel in Tripoli. The seminar was managed and supervised by the Deputy Head of the Tax Authority, who stressed in his opening speech the importance of developing the legislative and regulatory framework to keep pace with the rapid economic developments at the global and local levels, especially the increasing expansion of e-commerce. He also pointed out that the Authority attaches great importance to establishing fair and effective tax rules, in line with the requirements of Libya's current economic stage. The themes of the seminar were: • Challenges facing the tax system in Libya in light of the growth of e-commerce. • The role of competent State institutions in regulating this type of economic activity. • Ways to enhance tax awareness among e-commerce practitioners. • Review successful international experiences in this field. E-commerce taxation without suppressing sector growth The Tax Authority reported that there was in-depth discussions during the scientific sessions between experts and academics on mechanisms for integrating e-commerce into the national tax system, in a way that ensures tax justice and contributes to enhancing public revenues, without negatively affecting the growth of this vital sector. Symposium Objectives: This seminar comes as part of the efforts of the Libyan Tax Authority to: • Strengthening cooperation with academic institutions. • Exchange of scientific and technical expertise. • Modernization of the tax system. • Raising the efficiency of institutional performance. Symposium Recommendations: The most prominent recommendations that emerged from the symposium were: • The need to communicate with the competent authorities for granting e-commerce licenses within the Libyan state, including: • Ministry of Economy • Commercial Registration • Chamber of Commerce • Ministry of Communications • And the official authorities authorized to do so
Roya News
09-07-2025
- Politics
- Roya News
'Israel' stops hotel funding for displaced citizens from Iran war
The 'Israel' Tax Authority told thousands of 'Israelis' who were displaced from Iranian ballistic missiles that they will be eligible to stay in state-funded accommodation in hotels only up until August 1. Exceptions will be given to evacuees with special cases such as medical disability, or family conditions. The Tax Authority said the goal is to move from hotels to long-term housing solutions even earlier. Iranian ballistic missile strikes during the recent 12-day war in June 2025 caused significant damage to residential buildings and left approximately 15,000 "Israelis" homeless. The conflict ultimately led to the deaths of 28 "Israelis'.
Gulf Insider
01-07-2025
- Business
- Gulf Insider
Oman: 16 Income Sources Exempted From New Individual Income Tax
Oman has announced key exemptions under its new Personal Income Tax Law, which is set to come into effect on January 1, 2028, according to the official Gazette. The law introduced a 5% tax on individuals earning more than OMR 42,000 annually. However, with this relatively high threshold, the Tax Authority estimates that around 99% of the population will remain unaffected. The issuance of Oman's first-ever Personal Income Tax Law, enacted under Royal Decree No. 56/2025, is part of the country's broader efforts to promote fiscal diversification and long-term economic sustainability under Oman Vision 2040. The law outlines 16 types of income that are exempt from personal income tax under Article 25. These include: 1. Salaries received by members of diplomatic and consular missions and other diplomatic representatives from foreign countries or international organisations, within the scope of official duties—subject to reciprocity. 2. Living allowances paid to Omani residents working in diplomatic missions (excluding diplomats themselves). 3. Income earned abroad by a tax resident for 18 months following a change in residency status. 4. Salaries and wages earned abroad by Omani tax residents. 5. Contributions to pension and post-service benefit schemes, whether mandatory or optional, up to two schemes. 6. Educational expenses for the individual, spouse, first-degree relatives, and dependents—within limits set by regulation. 7. Healthcare expenses for the individual, spouse, first-degree relatives, and siblings under their care—as specified in the regulations. 8. Income from a primary residence, provided the residence has been declared to the Tax Authority for at least two years. 9. One-time lifetime exemption on income from the sale of a secondary residence. 10. Zakat and charitable donations (including endowments) to approved entities, up to 5% of gross income. 11. Returns on investment certificates issued by the Government of Oman, and income from their sale. 12. Interest earned from government bonds and notes, and proceeds from their sale. 13. Compensation payments received for any reason, excluding salary or wage compensation. 14. Income from inheritance, wills, grants, or gifts between spouses or first-degree relatives. 15. Interest on housing loans or Islamic financing for a primary residence—one-time, lifetime exemption under regulated conditions. 16. Income from industrial property rights (patents, trademarks, designs, etc.) for five years from the date of registration. In 2024, Oman collected OMR 1.4 billion in revenue from corporate income tax, VAT, and selective taxes. The introduction of personal income tax is expected to complement these existing streams, strengthen fiscal credibility, and enhance Oman's attractiveness to international investors. This landmark law positions Oman alongside other Gulf countries that are shifting toward diversified, non-oil revenue models, marking a significant evolution in the region's economic landscape.
Zawya
01-07-2025
- Business
- Zawya
Oman: 11 income sources subject to new individual income tax
Muscat: The Official Gazette (Issue No. 1602) released on Monday has outlined key details of the new Individual Income Tax Law under Royal Decree No. 56/2025. While the law itself will come into effect on January 1, 2028, attention is now shifting to the practical implications — particularly the 11 sources of income that will be subject to taxation under the new framework. These categories, as defined in the law, form the basis for determining a person's gross income, with net earnings exceeding OMR 42,000 annually being taxable. Here's a breakdown of the income streams covered: 11 Taxable Sources of Income Under the Law 1. Salaries and Wages Includes basic pay, allowances, bonuses, in-kind benefits, and compensation for loss of income. Pensions are excluded. 2. Self-Employment Covers income from freelance or independent work. A 15% deduction applies for related expenses. 3. Leasing Earnings from renting real estate, equipment, or other assets. Also eligible for a 15% cost deduction. 4. Royalties Income from licensing or exploiting intellectual property, technical knowledge, or industrial equipment. 5. Interest Income from bank deposits, savings accounts, loans, and investment certificates. 6. Dividends and Capital Gains Includes profits from shares, bonds, sukuk, and disposal of these financial instruments. 7. Real Estate Asset Disposal Profits from selling properties are taxable, with exemptions for primary and secondary residences if declared to the Tax Authority. Transfers through inheritance, wills, or between spouses and first-degree relatives are not taxed. 8. Retirement Pensions and End-of-Service Benefits Includes all such payouts received by individuals, unless already excluded by a specific provision. 9. Awards and Prizes Monetary or in-kind winnings from licensed competitions, draws, or promotions. 10. Grants and Donations Any non-employment-related financial or in-kind gifts received from individuals or institutions. 11. Membership Rewards Payments for serving on boards or councils, including State Council, Shura Council, municipal councils, or boards of companies and associations. The law also provides specific exemptions and deductions for education, healthcare expenses, housing loans, and certain donations, allowing for a more balanced tax burden. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
