In a bid to increase trade relations, the governments of Oman and South Africa have signed an agreement for the avoidance of double taxation. The initiative is forecasted to encourage air transport and shipping activity, reported ONA.
According to the agreement, Omani and South African air and land transportation companies will no longer have to pay income tax when operating cargo and passenger services between the two states.
Diplomatic relations between South African and Oman were established in 1995. South Africa’s main exports to the Sultanate are chemicals, as well as machinery and mechanical appliances. Oman’s main exports to South Africa are electronic equipment. — (menareport.com)
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