As previously reported, the Sultan of Oman has given final approval for an economic stimulus plan as part of "Oman Vision 2040", which includes several tax incentives. In addition to the incentives reported, the plan also includes several other support measures, including:
- Losses incurred in the 2020 tax year are allowed to be carried forward indefinitely (normally subject to a 5-year limit);
- A deduction equal to 1% of the tax due for 2021, subject to an OMR 10,000 cap, is provided for taxpa…