According to recent reports, Oman has ratified the pending income tax treaty with Spain. The treaty is the first of its kind between the two countries. Taxes Covered The treaty covers Omani income tax, and Spanish individual income tax, corporation tax, income tax on non-residents, and local income tax. Withholding Tax Rates Dividends - 0% if the beneficial owner is a company directly holding at least 20% of the paying company's capital, otherwise10% Interest - 5% Royalties - 8% Double Taxation Relief Both countries apply the credit method for the elimination of double taxation. Limitation on Benefits A protocol to...