On 18 December 2024, the Sultan of Oman issued the royal decree for the ratification of the pending income and capital tax treaty with Luxembourg. The treaty, signed 17 October 2024, is the first of its kind signed between the two countries. Taxes Covered The treaty covers Luxembourg income tax on individuals, corporation tax, capital tax, and communal trade tax. It covers Omani income tax. Residence If a person other than an individual is considered a resident in both Contracting States, the competent authorities will determine the person's residence for the purpose of the treaty through mutual agreement, having regard...