Oman Ratifies UK Double Tax Treaty
Thursday, February 11, 2010
The Omani government has announced that Sultan Qaboos bin Said has passed Royal
Decree No. 15/2010 ratifying the protocol amending the double tax convention
in place with the United Kingdom since February 1998.
The protocol was signed on November 26, 2009 by Stephen Timms, Financial Secretary
to the UK Treasury and Ahmed Abdulnabi Maki, Oman’s Economy Minister. The
new protocol removes the withholding tax on dividends (previously a maximum
of 10%), removes the 15% percent rate for UK-REITs, and provides a withholding
rate of 8% on royalties. The agreement also incorporates tax information exchange
provisions in line with the OECD standard on transparency and tax information
As soon as the UK authorities are notified of the document’s ratification,
the protocol will immediately enter into force, except for taxes withheld at
source, for which it will have effect in respect of amounts paid on or after
January 1, 2011.