Transfer pricing in Oman at a glance
|Regulation Type||National regulations|
|Are there specific transfer pricing regulations?||Yes|
|Submission deadline upon request||N/A|
|Annual update required||N/A|
|Official language requirements||N/A|
|Potential impact of penalties||N/A|
Oman tax law
Rules for transfer pricing in Oman are based upon:
- Royal Decree 28/2009
- Income Tax Law Articles 126, 127 and 128
Oman is not an OECD member and its transfer pricing regulations do not follow the OECD transfer pricing Guidelines.
Rules for transfer pricing in Oman do not prescribe any rules about any method. Generally accepted is, however, the Comparable Uncontrolled Price method.
Information that should be included in the documentation:
Requirements to prepare documentation annually
Submission deadline upon request by tax authorities
Advance Pricing Agreements
Rules for transfer pricing in Oman do not provide for any possibility to obtain an Advance Pricing Agreements.
Rules for transfer pricing in Oman do not prescribe for any specific transfer pricing penalty.