Corporate income tax reform
The Secretariat General for Taxation (SGT) engaged ASI on a programme of support designed to reform policy and law in connection with income tax on companies. Oman is the regional leader in this type of reform, and with the support of ASI, redesigned policy, and restructured the law so as to tax companies fairly and transparently. ASI’s work was essentially three dimensional, and was concerned with a) policy and law; b) internal procedures within the SGT, and; c) information for taxpaying parties, including reform of the procedure for returns of income.
Specific outputs from our technical assistance included a modern, comprehensive corporate tax policy, corporate tax law and associated administration reform. We worked with SGT officials to agree the policy and then drafted legislation to reflect and support it. Following its approval we worked on practical tax administration issues, training SGT staff and educating taxpayers. The new tax was a success for Oman and an important step on the road to it being a regional leader in reducing reliance on oil revenues.