Muscat: His Majesty Sultan Qaboos bin Said has ordered tax exemptions for all new investors in tourism for Musandam.
Starting from June 1, 2019, new tourism companies in Musandam will also no longer have to pay the 15 per cent revenue tax that is currently levied.
The new tax exemptions, that amount to 15 per cent of the revenue, will be applicable for all new investors who wish to start a tourism project in Musandam, in order to boost the tourism sector in the Governorate.
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As per His Majesty’s order, all previous regulations will be disregarded for new investments in tourism projects in Musandam.
The exemptions will also cover all customs cost for construction materials, tools and preparations during the starting period of the projects, as well as the 4 per cent of tourism fees and 5 per cent municipal fees, for a period of 10 years.
Tags:Muscat, His Majesty Sultan Qaboos bin Said Musandum
