Muscat, The Ministry of Commerce and Industry (MoCI) extended the period of exemption of the commercial records of companies whose records have expired until the end of December 2016 and the previous delay penalties until the end of December 2018.

The ministry said that it deleted the commercial records of the individual institutions that have no workforce and have not conducted their business activities for several years. It also stopped dealing with individual institutions where there is a workforce in the bodies associated with the business so that their owners can adjust their records.

The Ministry clarified that the number of completed commercial records reached 39,711 commercial records during the period from the beginning of 2017 to September 25th of this year. The Ministry allowed during the last period for the owners of these records to cancel or liquidate their records without payment of delay penalties.

During the same period, 22,275 commercial records were renewed in individual institutions, joint ventures, limited liability companies and recommendation companies.

Source: Oman News Agency