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PART ONE Definitions and General Provisions
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CHAPTER ONE Definitions
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Article 1: |
For the purposes of this Law, the following words and terms shall have the meaning attached to each of them, unless the context otherwise requires: |
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1. |
The Minister: The Minister Supervising the Ministry of Finance; |
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2. |
The Secretary General: The Secretary General for Taxation at the Ministry of Finance; |
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3. |
The Secretariat General: The Secretariat General for Taxation at the Ministry of Finance; |
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4. |
Permanent establishment: Has the meaning specified in Articles 2 and 3 of this Law; |
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5. |
Non-Omani partnership agreements that do not assume the form of a company: Has the meaning specified in Article 4 of this Law; |
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6. |
Principal officer: Has the meaning specified in Articles 6, 7 and 9 of this Law; |
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7. |
Notice: Has the meaning specified in Articles 30 to 32 of this Law; |
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8. |
Royalties: Has the meaning specified in Article 36 of this Law; |
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9. |
Gross income: Has the meaning specified in Article 42 of this Law; |
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10. |
Taxable income: Has the meaning specified in Article 43 of this Law; |
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11. |
Accounting period: Has the meaning specified in Articles 48 to 51 of this Law; |
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12. |
Control: Has the meaning specified in Articles 132 and 133 of the Law; |
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13. |
Tax: The tax charged on income under the provisions of this Law, and for the purposes of Articles 152, 154, 155, and 158, it includes additional tax and administrative penalties imposed under the provisions of Articles 156, 179, 180, and 181 of this Law; |
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14. |
The Committee: The Income Tax Committee formed at the Ministry of Finance in accordance with Article 166 of this Law; |
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15. |
Administrative penalties: The administrative penalties imposed under Articles 179 to 183 of this Law; |
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16. |
Due date for payment: The date on which the tax due is payable in accordance with the provisions of this Law; |
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17. |
Disposal: The sale, exchange, relinquishment or other types of disposals of any asset; it also includes the loss of the asset or its compulsory seizure in accordance with the Law; |
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18. |
Loss: Loss computed on the same basis decided for computing the taxable income; |
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19 |
Assessment: The determination made by the Secretariat General under the provisions of this Law of the amount of tax and the taxable income or the loss or the income to be exempted from tax either in accordance with the provisions of this Law or any other law; |
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20. |
Tax year: A period of twelve months commencing from the first of January and ending at the end of December of any calendar year; |
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21. |
Person: A natural person or a Juristic person and includes joint venture and non-Omani partnership agreements that do not assume the form of a company; |
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22. |
Taxpayer: An establishment or a Omani company or a permanent establishment; |
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23. |
Foreign tax: Tax on income borne by the taxpayer in a foreign country; |
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24. |
Omani company: Any person established in Oman as a company under the legislations of Oman, whether it is a commercial, civil or any other company, and whatsoever be the legal form of the company, the nationality of its partners, the purpose of its incorporation or the nature of its activity; |
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25. |
Bank: Has the meaning specified in the aforementioned Banking Law; |
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26. |
Owner of a permanent establishment: The person carrying on any business through that permanent establishment; |
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27. |
Establishment: An establishment owned by a natural person solely, which independently carries on a commercial, industrial or professional activity in Oman; The owner means the natural person who carries on any of the aforementioned activities through that establishment; |
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28. |
Business: Includes any activity, and in particular the commercial, industrial, vocational , professional or any other activity; |
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29. |
Professional activity: Includes the practice of any profession such as medicine, law, accounting, engineering and any other activity of a professional nature, based on the components of work and capital and specified in a decision issued by the Minister; |
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30. |
Petroleum: The crude oil, natural gas, asphalt, oil derivatives, and the associated substances of each. |
