🇴🇲 Tax31 Dec 2024
Oman enacts a 15% domestic minimum top-up tax for large multinationals from 2025
Oman's Royal Decree No. 70/2024, issued on 31 December 2024, enacts the Supplementary Tax Law on entities of multinational groups. From 1 January 2025, Omani companies, branches and permanent establishments of groups with revenue of at least EUR 750 million in two of the last four years must pay at least 15% tax on their profits through a domestic minimum top-up tax.
Oman's standard corporate income tax rate is 15%, but incentives and exemptions can take some groups' effective rate lower.
What changed
- A domestic minimum top-up tax ensures constituent entities of in-scope multinational groups in Oman, including companies, branches and permanent establishments, pay at least 15% on their profits.
- It covers groups with consolidated revenue of at least EUR 750 million in two of the last four financial years.
- It took effect on 1 January 2025.
- Executive regulations were still to be issued when the law was published.
Who is affected
Omani entities of large multinational groups, especially those with tax holidays or free-zone incentives, and their tax teams.