Oman announces income tax, who is next in GCC

Oman announces income tax, who is next in GCC

The UAE News report: Oman has announced income tax and become the first country within GCC nations by introducing the income tax from 2022, according to media reports. Now the question is that which country will be the next in line for the introduction of income tax in Gulf countries.

According to tax experts, Bahrain and Kuwait could join the club next within the region for the introduction of income tax. GCC countries are sitting on big oil wealth but because of the lower crude oil prices, they are thinking about alternative revenue resources.

Tax experts suggested that the next GCC country, which will announce the income tax may be from 2023 after Oman announces income