TaxSavvyOM

Late filing fine for the income tax return

We will file the Oman tax return one month late. What fine applies?

The situation

Failing to file on time carries a fine of OMR 100 to 2,000. Late payment adds 1 percent of the unpaid tax per month.

The law

  • Income Tax Law (penalties): Late return fine OMR 100 to 2,000; late payment 1 percent per month; under declaration fine 1 to 25 percent of the difference

What it means for you

The fine is set within the range by the Tax Authority. If OMR 20,000 tax is also paid one month late, add about OMR 200. Missing the deadline also invites an estimated assessment if no return is filed.

What to do

  1. File as soon as accounts are signed.
  2. Pay the tax with the return.
  3. Keep records explaining the delay.
  4. Set an earlier internal deadline for next year.

We can do this for youAnnual corporate income tax return with audited accounts (15 percent): OMR 650

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