Oman Suspends Country-by-Country Reporting Requirements26th July 2021
Oman is pumping the breaks on country-by-country reports. The tax authority revealed its plan to suspend requirements until further notice—an interesting choice considering the country just introduced them in September 2020. In the most-recent published alert, the Oman tax authority irons out who falls into the exempt category. The suspension applies to multinational groups whose parent entity resides outside of Oman. While it’s a nice reprieve for the applicable group, it’s important to note that not all requirements have been taken off the table: The country-by-country notification requirement is still very much mandatory.