Tax Consultancy Services in Oman

At Premier Brains, we aim to make your world of tax reporting easier and more manageable with the help of our trained and qualified staff and through the variety of tax consultancy services we offer.

Whether you are looking for help with personal, international, business, or specialized tax forms, we have the resources to help you reach your goals. When it comes to tax consultants, Oman is home to a variety of professionals, but at Premier Brains we have one of the most dedicated teams in the region.

International Tax Services in Oman

At Premier Brains, one of the specialized areas that we focus on is our international tax consulting. Within this general framework, our team members offer a variety of different services that fall under this category.

• Cross-Border Transitions: One of the services that we offer is aid and guidance in the structuring of your cross-border transitions and how to make them tax-efficient. This service can help you structure your growth strategically and get ahead.
• Tax Planning: Related to this strategic structuring approach, another service within our tax division is our general international tax planning services. Taking on cross border business, and the taxes that accompany this, is an important decision that requires a strong foundation of planning; especially with regards to taxes. This service will help you gain a solid understanding of the Tax impact on your business of entering into new markets or of growing further within the same market.
• Double Taxation Treaties: Within our international taxes department we offer consultancy on double taxation treaties. Double taxation treaties can prove to be complicated, but our services will help you understand them and be able to make the deals and decisions that will best benefit you and your business.
• Certificates: Another important aspect of conducting international taxes comes in the form of gaining particular certificates, especially value added tax certificates and tax residency (domicile) certificates. At Premier Brains, we work closely with the Ministry of Finance to help you attain these needed documents.

Value Added Tax (VAT) Services in Oman

Oman announced the implementation of Value Added Tax (‘VAT’) on 12 October 2020. The VAT Law was published in the Official Gazette of Oman on Sunday, 18 October 2020 vide Royal Decree No. 121/2020. The date of implementation of VAT in Oman is 16 April 2021. By choosing to work with our VAT services, we will help you understand how these new regulations impact you and your business.

When it comes to finding your ideal tax consultants, Oman has many options, but Premier Brains is well-placed to be your best choice. This is largely due to our dedication and detailed understanding of even the most technical points, particularly when it comes to Value Added Tax.

Through our services, you can plan accordingly and learn how to adjust your current systems under the tax and learn for possible changes. We will also make sure you are following all legal filing and registration requirements.

To read more about this, please click VAT-Advisory in Oman.

To know the Vat registration process, please click Vat Registration in Oman. For a list of documents required for VAT registration, please read our blog posts.

To read more about VAT return filing process, please click VAT Return Filing in Oman.

We conduct VAT trainings on a regular basis, please consult us directly and some of the topics covered can be seen at VAT Trainings for Oman.

Corporate tax in Oman

The corporate tax rate is 15% for all businesses, including branches and Permanent Establishments of foreign companies. The rate applying to small companies (as defined) is 3%. Income from the sale of petroleum is subject to a special provisional rate of 55%.

Double taxation treaties in Oman

Oman currently has 35 effective double taxation treaties with other countries/territories. These treaties prevent double taxation. It also allows cooperation in enforcing their respective tax laws between Oman and overseas tax authorities.

Excise tax in Oman

Effective 15 June 2019, the Oman Tax Authority (OTA) introduced excise tax. Royal Decree No. 23/2019 (Excise Tax Law) provides for levy of excise tax. The OTA has increased the rate of excise tax on alcoholic beverages from 50 percent to 100 percent, effective from 1 July 2020, and also announced the introduction of excise tax on sugar-sweetened beverages with effect from 1 October 2020.

Based on the Implementation Guide on Excise Tax issued by the Secretariat General for Taxation (“SGT”), excise tax will apply to the following products:

• tobacco and tobacco derivatives at 100%;
• energy drinks at 100%;
• carbonated drinks at 50%;
• special purpose goods (including alcohol and pork products) at 100%.

This clearly means that retailers, hotels, restaurants, etc. which are holding the stock of these products on the date of introduction of new tax are significantly impacted. It is important for businesses that import, produce or hold excise goods to assess the impact of excise tax on their business operations.

Permanent establishment implications

Overseas companies in Oman are likely to have exposure to tax because of the presence of secondees (if the presence of the company’s employees in Oman exceeds 90 days in any 12-month period). This may need a separate examination from a corporate tax perspective.