Automatic Exchange of Information (AEOI)

The Automatic Exchange of Information is an international framework that enables exchange of financial information between countries automatically, with the aim of enhancing tax transparency and reducing cross-border tax evasion.

The Sultanate of Oman participates in this system as part of its commitment to the international standards set by the Organization for Economic Co-operation and Development (OECD) and the Group of Twenty (G20).

Under this system, financial institutions (such as banks and investment firms) collect specific information about financial accounts held by non-resident individuals or entities and report them to the Tax Authority. The Tax Authority, in turn, exchanges this information with the relevant Tax Authorities in other jurisdictions in accordance with international agreements.

The Automatic Exchange of Information contributes to achieve the following:

• Fostering international tax compliance.
• Combating tax evasion and money laundering.
• Strengthening trust in both the domestic and global tax systems.