Covid-19: Tax Authority announces incentives for companies in Oman

Energy Wednesday 08/July/2020 13:40 PM
By: Times News Service
Covid-19: Tax Authority announces incentives for companies in Oman
Muscat: Based on the directions from the Supreme Committee, the country’s Tax Authority on Wednesday announced a slew of measures for corporate companies in the wake of coronavirus outbreak.


The Authority has suspended additional tax due to non-payment of the income tax payable for the tax year ended on December 31, 2019 to September 2020.


All fines for non-submission of declarations and accounts for the fiscal year 2019 has been suspended till the end of September 2020.


The Authority also suspended additional tax due from the original taxes payable for the years prior to 2019, during the period from January 1, 2020 to the end of September 2020.


Meanwhile, the Authority also allowed corporate companies to pay tax due for 2019 on instalments. While payments can also be rescheduled based on requests.