HM’s directives to suspend withholding tax on dividends, interest welcomed

Muscat: Officials appreciate the His Majesty Sultan Haitham bin Tarik’s Royal directives to suspend the withholding tax on stock dividends and interest for non-residents in the Sultanate of Oman.

The CEO of Muscat Stock Exchange confirmed that stopping the tax on dividends and interest will benefit non-resident foreign investors and the securities listed on the stock exchange will be more attractive to investors.

His Excellency, the CEO of the Capital Market Authority, said that the royal orders to suspend the application of the withholding tax at source on the distribution of dividends of shares and the interests of sukuk and bonds for the foreign investor will contribute to revitalizing trading in the Muscat Stock Exchange and enhancing its market value and the role of the capital market as a tool for financing economic projects.