Oman: Country-by-country reporting is suspended

Suspension of the requirement to file a country-by-country (CbC) report

Suspension of the requirement to file a country-by-country (CbC) report

The tax authority of Oman on 7 July 2021 announced the suspension of the requirement to file a country-by-country (CbC) report, until further notice.

Previously, a CbC report for the reporting period 1 January 2020 through 31 December 2020 (the reporting fiscal year 2020) was due to be filed in Oman by certain multinational enterprises (MNEs) before the end of the current calendar year (that is, on or before 31 December 2021). It is this specific requirement that has been suspended until further notice.

However, the CbC notification requirement for reporting fiscal year 2021 continues to remain applicable and is due on or before 31 December 2021. 

KPMG observation

Under the CbC rules, if Oman does not have a reciprocal bilateral exchange agreement with the country where the ultimate parent entity (UPE) or surrogate parent entity (SPE) of the MNE group is a tax resident, a CbC report is required to be filed with the tax authority in Oman.

Currently, Oman does not have an active bilateral exchange status with any country. Therefore, in practical terms, this requires almost all qualifying MNEs in Oman to file their CbC reports in Oman—even in instances when the UPE or the SPE of the MNE is already filing a CbC report in its respective resident country(s).

While the announcement does not provide an official reason, this suspension is expected to provide temporary relief to MNEs until such time that Oman’s bilateral exchange status is activated with other countries.

Read a July 2021 report prepared by the KPMG member firm in Oman


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