Muscat: His Majesty Sultan Qaboos Bin Said has issued his directives to offer some exemptions from fees and taxes to any new investor who wishes to establish a tourist project in the Governorate of Musandam, in exception to any regulations applied in this regard, in order to activate the tourist aspect in this governorate.
The royal directives exempted from customs duty the building materials, tools and equipment required by the tourism project during the construction period, exemption from the "4%" tourism tax and "5%" municipal tax starting from the actual operation of the project for ten years.
The royal directives also rule the exemption from the ''15%'' companies income tax starting from the actual operation of the project for ten years. His Majesty's royal directives also ruled that the exemptions to be activated starting from June, 1st 2019.
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