Tax Authority announces extension of facilities, incentives package

Muscat: The Tax Authority has announced the extension of the facilities and incentives package to limit the economic effects of the COVID-19 pandemic. 

A statement issued online by the Government Communication Center (GC) said, ”In the implementation of what has been approved by the Supreme Committee, in charge of examining the mechanism of dealing with developments resulting from the spread of the COVID-19, regarding the extension of the facilities package related to the procedures provided by the government to the private sector institutions and its workforce until the end of this year to address the economic effects of the pandemic, the Tax Authority announces the extension of the set of facilities and incentives related to pay the tax due during the year 2020 that was previously announced, as follows:

1. Suspending the validity of the additional tax resulting from failure to meet the due income tax payable for the tax year ending on 31st December 2019 for a maximum period at the end of December 2020, and the previously set date for cases whose fiscal year ends at a later date to 31st December 2019 is extended for a period Maximum of 12 months from the date of the end of its fiscal year.

2. Suspending the validity of fines and penalties resulting from failure to submit declarations and accounts for the fiscal year 2019 for a maximum period of time at the end of December 2020.

3. Suspending additional tax due on the original taxes payable for the years prior to the year 2019 during the period from 1st January 2020 until the end of December 2020.