Muscat: His Majesty Sultan Haitham bin Tarik has today issued two Royal Decrees, which are detailed as follows:
Royal Decree No. (37/2025) establishes the Financial Law, following its presentation to the Council of Oman.
Article (1) mandates the enforcement of the provisions of the Financial Law attached to this decree.
Article (2) assigns the Minister of Finance the responsibility to issue the Executive Regulation for the law included in this decree, along with the necessary decisions for its implementation. Until these regulations are issued, the current regulations and decisions will remain in effect, without affecting the provisions of the new law.
Article (3) revokes the Financial Law established by Royal Decree No. 47/98 and nullifies any conflicting laws or provisions.
Article (4) states that this decree will be published in the Official Gazette and will take effect 60 days after its publication.
Royal Decree No. 38/2025 introduces the Law of Special Economic Zones and Free Zones, also following its presentation to the Council of Oman.
Article (1) requires the enforcement of the Law of Special Economic Zones and Free Zones attached to this decree.
Article (2) clarifies that the provisions of the attached law, once enacted, will not affect the benefits, incentives, exemptions, facilities, and guarantees provided to entities and companies operating in the free zones, as well as existing projects in the Special Economic Zone at Duqm. These entities, companies, and projects will continue to enjoy these benefits until their respective terms expire, in accordance with the relevant legislation and agreements.
Article (3) specifies that the Chairman of the Board of the Public Authority for Special Economic Zones and Free Zones is required to issue the executive regulations for the accompanying law within one year from its issuance date. Additionally, the Chairman must issue any necessary decisions to facilitate the implementation of its provisions. Until then, the current regulations and decisions will remain in effect, provided they do not conflict with the provisions of the accompanying law.
Article (4) revokes the Free Zones Law established by Royal Decree No. (56/2002), along with any other regulations that are inconsistent with or violate the provisions of the accompanying law.
Article (5) states that this decree will be published in the Official Gazette and will take effect the day after its publication.
