Transfer pricing in Oman

Transfer pricing in Oman at a glance

Regulation Type National regulations
Are there specific transfer pricing regulations? Yes
Submission deadline N/A
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

OECD

Oman is not an OECD member and its transfer pricing regulations do not follow the OECD transfer pricing Guidelines.

Methods

Accepted methods 

Rules for transfer pricing in Oman do not prescribe any rules about any method. Generally accepted is, however, the Comparable Uncontrolled Price method.

Documentation requirements

Information that should be included in the documentation:

Not applicable.

Language

Not applicable.

Requirements to prepare documentation annually

Not applicable.

Submission deadline upon request by tax authorities

Not applicable.

Advance Pricing Agreements

General

 Rules for transfer pricing in Oman do not provide for any possibility to obtain an Advance Pricing Agreements.

Terms

Not applicable.

Penalties

Rules for transfer pricing in Oman do not prescribe for any specific transfer pricing penalty.

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