The European Union (EU) has welcomed the Sultanate of Oman’s decision to share taxation data with the European body. Oman has implemented amendments to its laws allowing automatic exchange of information in the filed of taxation, as well as the Sultanate’s completing procedures related to the activation of information exchange with the EU.
The Sultanate recently undertook various measures related to international cooperation in the field of taxation, including the issuance of a Royal Decree in this regard.
The Sultanate has also joined the General Framework on Base Erosion and Profit Shifting.
The Sultanate also joined the Global Forum on Transparency and Exchange of Information for Tax and signed a set of multilateral agreements supervised by the Organisation for Economic Cooperation and Development (OECD), the most important of which is the Multinational Convention to Implement Tax Treaty Related to Measures to Prevent Base Erosion and Profit Shifting.
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