July 10, 2020
Oman Tax Authority announces initiatives to reduce economic impact of COVID-19 for businesses
On 8 July 2020, the Oman Tax Authority (Tax Authority) announced initiatives to postpone taxes, suspend fines and penalties and extend tax filing deadlines in response to the adverse economic impact on businesses resulting from the COVID-19 pandemic.
The Tax Authority has announced the following measures intended to provide relief to businesses under the Income Tax Law:
It is important to note that while suspension of fines, penalties and additional tax do not require an application or request from the taxpayer, cases dealing with payment of tax in installments, postponement of payment of disputed tax and extension of deadlines to submit information as part of assessments or objection proceedings, have to be expressly sought by the taxpayer from the Tax Authority.
The initiatives introduced by the Tax Authority are aimed at contributing to the recovery of economic and commercial activities in Oman. Taxpayers in Oman should review these initiatives and assess their eligibility.
For additional information with respect to this Alert, please contact the following:
Ernst & Young LLC, Muscat
Ernst & Young LLP (United States), Middle East Tax Desk, New York