Oman: CRS agreement on assistance in tax matters, exchange of information

Oman: CRS agreement on assistance in tax matters

Oman signed the multilateral convention on mutual administrative assistance in tax matters under the common reporting standard (CRS) regime.

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The convention provides all forms of administrative assistance in tax matters including automatic exchange of information, exchange of information on request, and simultaneous tax examinations.

Oman is expected to undertake the first exchange by September 2020. Additionally, it is expected that Oman’s domestic legislation would allow specified financial institutions to undertake CRS compliance with the designated authority.

Lastly, the signing of the documents is expected to help Oman to be removed from the European Union “blacklist.”

Read a December 2019 report [PDF 95 KB] prepared by the KPMG member firm in Oman

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