Oman — Orbitax Corporate Tax Rates (2024)

FAQs

What is the corporate tax rate in Oman? ›

Statutory Tax Rate

Oman's corporate tax rate is 15% for Oman companies and PEs and branches of foreign companies.

Including state corporate taxes, a 25 percent federal corporate income tax. rate would result in a combined average top corporate tax rate of 29.53 percent—higher than the 23.51 average among industrialized countries in the OECD.

If you make 16,000 OMR a year living in Oman, you will be taxed 1,280 OMR. That means that your net pay will be 14,720 OMR per year, or 1,227 OMR per month. Your average tax rate is 8.0% and your marginal tax rate is 8.0%.

Currently, Non-resident individuals would be liable to income tax at the rate of 15% if they carry on commercial, industrial or professional activities in Oman.

The income tax rate is 15% for all taxpayers other than Omani proprietorships ('establishments') and limited liability companies (LLCs) that fulfil the conditions of small and medium enterprises (SMEs).

Currently, Oman is a tax-free nation, as there is no taxation on personal income. Moreover, there are no taxes on income from property, wealth, capital gains or death.

1. Ivory Coast. The country with beach resorts, rainforests, and a French-colonial legacy levies a massive 60% personal income tax – the highest in the world.

The Corporate Tax Rate in the United States stands at 21 percent. Corporate Tax Rate in the United States averaged 32.08 percent from 1909 until 2024, reaching an all time high of 52.80 percent in 1968 and a record low of 1.00 percent in 1910. source: Internal Revenue Service.

As of recent reports, the average salary in Oman offers a diverse picture, influenced by factors such as the level of education, experience, industry, and job role. The average monthly salary in Oman for a worker varies, but it typically ranges from 450 OMR (Omani Rial) to 2,200 OMR per month.

What taxes does Oman have? ›

Oman Tax Authority issue TINs for the purposes of Companies Income Tax, Value Added Tax, and Excise Tax. There is no personal Tax in Oman. There structure of TIN may differ depending on type of taxes. For the VAT and Excise Tax, the TIN consists of 12 alphabetic- numeric characters.

A family of four estimated monthly costs are 2,565.8$ (987.8﷼) without rent. A single person estimated monthly costs are 739.7$ (284.8﷼) without rent. Cost of living in Oman is, on average, 39.6% lower than in United States. Rent in Oman is, on average, 70.3% lower than in United States.

Like any tax-free country in the Middle East, the government of Oman does not impose a tax on the residents as the country is known for its oil and gas industry. Personal income including income from capital gains, wealth, death, or property, is not taxed in the Sultanate of Oman.

Compared to other Middle Eastern countries, the standard of living in Oman is relatively high. Thanks to their generally price-indexed incomes, expatriates based in Oman can enjoy a high quality of life.

The survey says that expats find it easy to set foot in Oman, ranked 5th in the index. Essentials for expats are easily available in Oman, while housing and language also do not seem to be an issue. Indonesia, being the easiest destination for expats to find housing, ranks 6th on the index.

Corporate - Taxes on corporate income

Unless specifically exempt from tax, an entity will be taxable in Qatar if it has generated Qatar-source income, regardless of the place of its incorporation. Taxable income generally is subject to a flat (CIT) rate of 10%, with certain exceptions available.

Taxable income is subject to a Corporate Income Tax rate of 10% under the State of Qatar's tax regime. However, a different rate may apply to taxpayers carrying out activities under agreements with the government or engaged in the oil and gas sector.