Muscat – His Majesty Sultan Haitham bin Tarik issued three Royal Decrees reading as follows on Tuesday:

Royal Decree No 70/2024 promulgates the Supplementary Tax Law on entities affiliated to multinational groups.

• Article 1 states that the Supplementary Tax Law on entities affiliated to multinational groups attached to this decree will be enforced.
• Article 2 stipulates that the Chairman of Tax Authority will issue the Executive Regulation of the law attached to this decree, as well as the regulations and decisions necessary for the implementation of its provisions.
• Article 3 cancels all that contradicts the law attached to this decree or contravenes its provisions.
• Article 4 states that this decree will be published in the Official Gazette and enforced from  January 1, 2025.

Royal Decree No 71/2024 ratifies the Framework Agreement for Establishment of Private Sector Operations between the Sultanate of Oman and OPEC Fund for International Development (OFID) signed in Washington DC on October 23, 2024.

• Article 1 states that the abovementioned agreement will be ratified in accordance with the version attached to this decree.
• Article 2 states that this decree will be published in the Official Gazette and enforced from its date of issue.

Royal Decree No 72/2024 endorses an concession agreement for extraction and processing of sea salt between the Government of the Sultanate of Oman and Naqa Salt Company for Area No (51-K) signed on December 11, 2024.

• Article 1 endorses the abovementioned concession agreement for extraction and processing of sea salt.
• Article 2 states that this decree will be published in the Official Gazette and enforced from its date of issue.