Late filing of an annual tax return or declaration will result in a fine of OMR 100 to OMR 2,000. In addition, the tax authorities may make an estimated profit assessment. In some cases, an additional assessment of up to 50% of the tax due will be imposed.
Principal officers that intentionally refuse to submit a return or other requested information can be charged with a fine of OMR 2,000 to OMR 30,000 and/or imprisonment of three to twelve months in case of repeated violation
In response to the COVID-19 pandemic, Oman suspended the penalty for taxpayers who are unable to file tax returns for the 2019 financial year on time due to precautionary measures issued by the government until 30 September 2020.
Late tax payment will result in a penalty of 1% per month of the tax due from the date the payment is due until paid.
In response to the COVID-19 pandemic, Oman suspended the levy of additional tax due on late payments for taxpayers who are unable to pay taxes for the 2019 financial year on time due to precautionary measures issued by the government until 30 September 2020.
If a taxpayer files a return with understated income, a minimum penalty of 1% and a maximum penalty of25% of the difference may be imposed. Failure to furnish requested information/documentation to the tax authorities attracts a penalty of up to OMR 5,000. Additionally, failure to comply with executive regulations and administrative decisions attracts a penalty of up to OMR 3,000.
Principal officers that intentionally submit an incorrect return or intentionally conceal or destroy information/documentation can be charged with a fine of OMR 5,000 to OMR 50,000 and/or imprisonment of six to thirty-six months.