Oman Ratifies Tax Treaty With Spain

According to recent reports, Oman has ratified the pending income tax treaty with Spain. The treaty is the first of its kind between the two countries.

Taxes Covered

The treaty covers Omani income tax, and Spanish individual income tax, corporation tax, income tax on non-residents, and local income tax.

Withholding Tax Rates

• Dividends - 0% if the beneficial owner is a company directly holding at least 20% of the paying company's capital, otherwise10%
• Interest - 5%
• Royalties - 8%

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