Muscat: Today, the governments of the Sultanate of Oman and the Republic of Cyprus formalized an agreement in Muscat aimed at preventing double taxation and combating financial evasion concerning income taxes.
The agreement was executed by His Excellency Nasser bin Khamis Al Jashmi, Chairman of the Tax Authority, representing the Government of the Sultanate of Oman, and His Excellency Andreas Kakouris, Permanent Secretary of the Ministry of Foreign Affairs of Cyprus, representing the Government of the Republic of Cyprus.
This agreement is designed to promote investment, bolster economic ties between the two nations, enhance the economic standing of the Sultanate of Oman, offer legal safeguards for investors against double taxation, and streamline tax collection processes.
