Bondoni welcomes new Shareholders
After 5 years Sheikh Fahad Majid Al Mamari who has been a close and lifelong friend retires from being Chairman and major shareholder of Bondoni.
I am delighted to announce that Lt Col (Retd) Mike Wilson and Nicholas Woodhouse FRCP, OBE, Professor of Medicine, have become our new shareholders. Mike assumes the role of Chairman. Mike and Nick bring a wealth of experience and knowledge of Oman as well as in their respective fields of defence and security and medicine.
They were both made Omani citizens by HM Sultan Qaboos Al Said after dedicating more than 30 years of service to Oman.
New Bondoni clients
Symtech Solar MENA
Symtech Solar is an American renewable energy company that designs, produces and delivers the world’s most complete and cost effective photovoltaic (PV) solar energy solutions. Symtech Solar has appointed Symtech Solar MENA based in Muscat, Oman to be its exclusive partner covering the GCC and North Africa.
It provides commercial on-grid systems for homes, factories, offices, shopping centres, hospitals and schools as well as hybrid battery and off-grid systems to provide solar power where bringing electricity from the grid is too expensive or difficult.
IMD Business School
IMD Business School, Switzerland’s leading Business school is a world leader and pioneer in corporate leadership development. It is currently working with the Diwan on the National CEO program.
Other news affecting international businesses in Oman.
New tax regulations with effect from 1 January 2017
Oman’s recent Royal Decree has made a number of significant changes to the corporate tax regime. The main headlines are:
• The standard corporation tax has increased from 12- 15%
• The tax free threshold of OMR 30 000 has been removed.
• Even SME’s are affected but have a much softer landing than their larger counterparts provided they meet certain criteria.
Free zone Companies appear to have escaped these new taxes.
Withholding tax has broadened its reach to other forms of income including all dividends paid by Omani companies to their international partners.