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6 Pages

Oman votes to raise LNG corporate tax rate

Oman votes to raise LNG corporate tax rate

Report summary

 The continued slide in oil price has placed all exporters under pressure, particularly those which need hydrocarbon revenues to balance their budgets. With small production volumes and relatively expensive to extract oil, Oman is struggling to close a budget deficit forecast to be 13% of GDP in 2016.
As one of the measures to minimise the economic impact of lower revenues on the local population, Oman will raise the corporate tax rate. If approved by the cabinet, the rate levied on LNG producers will rise from 15% to 55% - the same rate as that applied to production sharing contracts. This puts the Omani corporate tax rate for LNG producers in line with other countries in the Middle East.
In recent years Oman has been perceived as a fiscally stable regime. However, it is the first country in the Middle East to raise taxes in response to the low oil price.

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  • Oman votes to raise LNG corporate tax rate PDF - 286.31 KB 6 Pages, 1 Tables, 5 Figures


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  • Executive summary
  • LNG assets affected by the tax increase
  • Corporate taxation in Oman
  • Impact of tax increase
  • Fiscal stability illusion

In this report there are 6 tables or charts, including:

  • Executive summary
  • LNG assets affected by the tax increase
    • Oman LNG assets
  • Corporate taxation in Oman
    • Corporate LNG income tax rates in the Middle East* Remaining PV of Oman LNG assets
    • Oman votes to raise LNG corporate tax rate: Image 2
  • Impact of tax increase
    • Oman votes to raise LNG corporate tax rate: Image 3
    • Increase in annual government revenues
    • Remaining value split
  • Fiscal stability illusion
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