2 August 2020
MUSCAT (WAF): The Sultanate of Oman made 1.2 billion Omani Rials ($3.1 billion) in taxes last year, official data by the National Centre for Statistics and Information (NCSI) shows.
The 19.4% increase taxes’ revenues come mainly from the corporate income tax, which stood at RO624.8 million ($1.6 billion) in 2019 compared to RO463 million ($1.2 billion) in 2018.
Taxes on goods and services also increased by 22% from RO158.7 million ($412.6 million) in 2018, which includes the revenue from the sin tax (selective tax) amounting to RO39 million ($101 million) for the second half of 2019.
Telecommunication licensees’ fees stood at RO37.5 million ($97.5 million) compared to RO444,000 ($1.15 million) in 2018.
Oman’s revenues from taxes in 2019 represent 46.3% of the country’s non-oil revenues and 11.3% of Oman’s total revenues for 2019.