Part 3 - Chargeability to Tax
Chapter 2 - Rules for Deduction from the Gross Income
Section 2 - Restrictions on Deducting Certain Categories of Expenses
Article 60
[GTL Notes: Non-Deductible Expenses]
In determining the taxable income for any tax year, there may not be deducted any of the following amounts from the gross income:
Any capital expenditure incurred during the tax year, except those which are deducted in accordance with the provisions of this Law;
Any amounts payable or paid as tax on income in accordance with the provisions of this Law, or any other tax on income which is payable or paid in any other country for that tax year or for any other period;
Any costs borne or losses incurred during that tax year where the costs were recovered, or the losses were compensated under a contract, insurance policy, Court judgment or others;
Any amounts considered by the Authority not to be reasonable by reference to the value of the services rendered or other considerations relating to such services;
Loss from the disposal of securities listed in Muscat Securities Market.