MUSCAT: The Sultanate of Oman has been rated "largely compliant" with international standards in the field of transparency and exchange of tax information. This positive rating reflects the remarkable progress it has made in enhancing the transparency of its tax system.
This assessment, conducted by the Global Transparency Forum's Peer Evaluation and Monitoring Group, followed a comprehensive review of the Sultanate of Oman's compliance with transparency requirements and the exchange of tax information upon request, in accordance with the standards set by the Global Forum on Transparency and Exchange of Information of the Organisation for Economic Co-operation and Development.
The evaluation process consisted of a field visit to the Sultanate of Oman conducted by a team of international evaluators in September 2024. During the visit, experts from the Tax Authority and relevant government agencies met to initially assess the Sultanate of Oman's transparency status and prepare a report on Oman's situation.
This highly ranked rating reflects the Sultanate of Oman's ongoing commitment to establishing the principles of transparency and governance, which enhances international confidence in its tax system. This commitment also contributes to combating tax evasion and supports joint international efforts in the financial and tax fields.
To enhance transparency and investment competitiveness, the Tax Authority continues to adopt international best practices and globally agreed standards. Unifying international tax practices reduces the cost of tax compliance for investors. — ONA
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