Country by Country Reporting 

In reference to the Royal Decree No. 34/2020 ratifying the Agreement on Mutual Administrative Assistance in Tax Matters, the provisions of which included the Sultanate’s commitment to exchange information between countries to report on the consolidated revenues of multinational companies (MNE), and to the Royal Decree No. 118/2020 issued on September 14, 2020 amending some provisions of the Income Tax Law, as Article (120) bis (2) of the Income Tax Law indicated the obligation of the persons concerned to collect, preserve and provide information for the purposes of implementing the automatic exchange of information in accordance with the provisions of international conventions on tax matters, in accordance with rules regarding which a decision is issued by the chairman of the Tax Authority.

In reference to the Tax Authority Chairman Decision No. 79/2020 regarding reporting rules on Country-by-Country Reporting, in which it specifies the designated persons and the information to be provided, the periods of retention, and the procedures to be followed in this regard, the Tax Authority announces that MNEs group having total consolidated revenue of more than (RO 300 million) three hundred million Rial Omani during the Fiscal Year immediately preceding the Reporting Fiscal Year as reflected in its Consolidated Financial Statements for such preceding Fiscal Year has to register and submit a notification in accordance with Article (3) of Action (13) of the Inclusive Framework of the Base Erosion and Profit Shifting (BEPS) through the Oman Tax Authority AEOI Portal (aeoi.taxoman.gov.om) before the end of December 31, 2020, in accordance with the rules specified in the aforementioned decision.