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May 15, 2026

Article 120 bis 2 provides the framework for the Automatic Exchange of Information (AEOI). It mandates that 'designated persons' must collect, preserve, and provide specific information for this purpose. The Chairman of the Tax Authority is authorized to issue decisions identifying who these designated persons are (e.g., financial institutions), what information they must report, how long records must be kept, and the exact procedures for submission. This Article is the legal basis for Oman's participation in global standards like the Common Reporting Standard (CRS) and FATCA.

Part 4 - Avoidance of Double Taxation

Chapter 1 - Avoidance of International Double Taxation

Article 120 bis 2

[GTL Notes: Automatic Exchange of Information]

For the purposes of implementing the Automatic Exchange of Information accordance with the provisions of international agreements relating to tax matters, designated persons shall collect, preserve, and provide information.

Decisions by the Chairman shall be issued for determining the designated persons, the information to be submitted, the periods of keeping them, and the procedures to be followed in this regard.