Executive Regulation of the Income Tax Law

After perusal of the Commercial Companies Law No. 4/74;

The Insurance Companies Law promulgated by Royal Decree No. 12/79;

The Law for the Organisation of Accounting and Audit Profession promulgated by Royal Decree No. 77/86;

The Law of Foreign Capital Investment promulgated by Royal Decree No. 102/94;

The Law (System) of the Unified Industrial Organization for the Gulf Co-operation Council Countries promulgated by Royal Decree No. 61/2008;

The Income Tax Law promulgated by Royal Decree No. 28/2009;

Ministerial Decision No. 9/83 amending the depreciation rates for solid buildings;

Ministerial Decision No. 91/84 providing rules for taxable income in respect of branches of foreign Companies operating in the Sultanate;

Ministerial Decision No. 92/84 determining rates for sponsorship fees deductible from the taxable income;

Ministerial Decision No. 43/86 determining the donations considered as deductible expenses from taxable income;

Ministerial Decision No. 23/89 determining the rates for local agent’s commission deductible from the taxable income for insurance companies;

Ministerial Decision No. 70/97 in determining rules governing deduction and payment of income tax of companies;

Ministerial Decision No. 51/98 determining rules for deducting the specified salaries for partners and owners of companies and establishments and rents, for determining the taxable income of companies and establishments;

Ministerial Decision No 93/2000 determining rules for deducting rent, for determining the taxable income of companies and establishments;

Ministerial Decision No 13/2005 determining the professions that are subject to the provisions of the Profit Tax Law on Establishments promulgated by Royal Decree 77/89;

Ministerial Decision No. 46/2005 determining the Rules and Procedures for exemption from income tax on companies and profit tax on establishments;

The decision of the Financial Affairs and Energy Resources Council No 33/2010 issued in the second meeting of the year 2010 held on 1 November 2010 determining the parties for which the donations paid are considered deductible expenses for determining the taxable income;

The decision of the Financial Affairs and Energy Resources Council No 34/2010 issued in the second meeting of the year 2010 held on 1 November 2010 in respect of the ratification ofprocedures determined for renewal of exemption from income tax for establishments and other companies which carry on their main activity in the fields stipulated Article 118 of the Income Tax Law;

And in view of the exigencies of public interest.