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15/10/2025 02:52 AST
The Tax Authority has announced the suspension of withholding tax for five years on service contracts provided onboard ships registered under the Omani flag. The move is part of efforts to enhance the competitiveness of the sultanate's maritime sector, it stated.
Hussam bin Hamad al Maamari, Director of the Tax Policy Department at the Tax Authority, said the decision reflects the authority's ongoing work to stimulate the investment environment and support key economic sectors.
He explained that the measure targets the maritime transport sector by encouraging the registration of vessels under the Omani flag, expanding maritime services, and reinforcing the sector's contribution to the national economy. It is also expected to attract quality investments to Oman's maritime transport industry.
The suspension took effect on September 1, 2025, and will remain in force until August 31, 2030. The exemption applies to withholding tax on service contracts for ships that are officially registered with the competent authorities in the sultanate.
The Tax Authority has urged all companies and institutions operating in the maritime sector to take advantage of the initiative, noting that it will help reduce operating costs and support business growth.
Muscat Daily
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