Executive summaryOn 14 September 2020, His Majesty Sultan Haitham Bin Tarik issued Royal Decree No. 118/2020 (RD 118/2020), which amended various provisions of Oman’s Income Tax Law (ITL). The most notable changes are:For tax years starting on or after 1 January 2020, replacement of the process of filing both provisional and final income tax returns with the process of filing a single return within four months from the end of the accounting period.Introduction of a new concept of tax residency.Provision of additional powers to the Tax Authority to request information from licensed banks to comply with provisions of international agreements.Taxpayers should...