Located in the southwest of Asia, Oman shares many of the cultural characteristics of its Arab neighbors. Oman, which has a very young age average, has a racially mixed native population and enjoy a reputation for a good living standard.
Oman’s key income is from oil, but the future is uncertain with its limited reserves. Other sources of income like agriculture and industry are very small in comparison hence the priority of the government is diversification.
Most of the government’s revenues are oil revenues and so the taxation is moderate. There is no personal income tax levies by the government. The tax system of Oman has undergone important changes in an attempt to open up the economy for foreign investment.
However, CXC helps its clients with the local tax registration and the local payroll Administration.
Taxation in Oman is relatively straightforward for contractors. Oman has no personal income tax on salaries but a withholding tax applies to contract workers. Visas are required to contract there. If you are planning contracting in Oman, it would be wise to consult with CXC Global on the best way to do so, and how best to balance your taxation in your country of tax residence.
With our extensive experience and expertise in contractor management, assisting organizations with their contingent workforce, CXC Global has the resources and solutions to manage the administration process associated with contracting in Oman, Work Permits, local payroll, and can assist clients realize a return on their income.