Oman on cusp of introducing personal income tax

Oman on cusp of introducing personal income tax

After two years of suspense, the Gulf state of Oman could pull the trigger next year.

“Income tax is still on track,” a source at the sultanate's National Program for Fiscal Balance told Al-Monitor on condition of anonymity. "We just finished the drafting of the law and we are doing some operational readiness. We expect the personal income tax to go live in 2023 [probably first half], provided that it receives all approvals including the royal decree." Two additional sources at the program confirmed the statement.

Fitch Ratings and S&P Global Ratings also estimated that Oman will likely introduce a personal income tax on high wage earners in 2023. As yet, the details are scarce.