Article 112 establishes the headline corporate income tax rate in Oman. It stipulates that a standard rate of 15% shall be applied to the taxable income of any establishment, Omani company, or permanent establishment for any given tax year. This uniform rate provides a predictable fiscal environment for businesses operating in the Sultanate. The 15% rate applies to all taxable profits determined after allowable deductions and exemptions, serving as the default tax burden for most commercial activities conducted by both local and foreign-owned entities.