Musandam woos investors with 10-year exemption of corporate tax, tourism & municipal fees

30 May 2019

Muscat (WAF): All new tourism-related investments in the northern Musandam Governorate in Oman, will enjoy some key exemptions from taxes and duties as of June 2019, state-owned Oman News Agency (ONA) reported today.

The exemptions come as part of Royal Directives by Sultan Qaboos bin Said of Oman to boost tourism-related business. These benefits will apply to “any new investor wishes to set up a tourist project in Musandam”, ONA said.

According to the Royal Directives, these tourist businesses will be exempted from: custom duties imposed on building materials, tools and equipment required during the construction phase, the 4% tourist fees and the 5% municipal fees for 10 years from the actual operating date, and the 15% corporate income tax starting from the actual operating date for 10 years.