The Executive President of the Capital Market Authority confirmed that the Government agreed to suspend the income tax related to dividends on shares and interests at 10% imposed after the issuance of the Income Tax Law promulgated by Royal Decree No. 9/2017 for three years as from May 6, 2019 extendable.

HE  Abdullah Salim Al Salmi said the move was based on the approval of His Majesty Sultan Qaboos bin Said may Allah protect him to create an attractive  environment for foreign investments for the development of the national economy and the national interests in view of the open doors policy adopted by the Sultanate with regard to the foreign investments and economic principles which would  enable the private sector to play a greater role in the comprehensive development programs and policies.

HE concluded that such decision would provide more incentives and facilities to attract direct and indirect  foreign investments and Oman would be attractive destination for global investment and robust securities market.