Oman has issued 11,540 industrial licences and granted customs and tax exemptions to 305 applicants in the first half (H1) of 2023, according to the Ministry of Commerce, Industry and Investment Promotion.
This is compared to 6,998 applications in the same period of 2022, an Oman News Agency (ONA) report said.
The applications submitted by industrial facilities for the import of raw materials and machinery for which tax exemption was granted through the ‘Bayan’ system amounted to 2,871 permits.
The Ministry confirmed that industrial establishments must apply for customs exemption before importing their products through the ‘Bayan’ system.
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