Article 124

Any establishment or Omani company that has paid foreign tax on a part of its income which accrued from a source outside Oman and such part of the income is also chargeable to tax in Oman, may submit an application to the Authority to deduct that tax from the tax payable on its taxable income in Oman for the tax year of which the income charged to the foreign tax forms a part. Application for deduction shall be submitted within a period of two years from the ending date of the tax year during which the foreign tax is paid.

In the computation of the amount that is to be allowed as a credit under the provisions of this Article, the rules for deduction provided in Article 121 and 122 of this Law shall apply.

The Authority shall within a period of six months from the date of submission of adequate documents allow the deduction.

The expiry of this period before issuing a decision shall be deemed to be an implied rejection of the claim. The decision of rejection - whether explicit or implied - may be disputed in accordance with the provisions of this Law.

The provisions of this Article shall not apply in cases where international agreements for the avoidance of double taxation are applicable.