Oman has announced plans to impose income tax, becoming the first Gulf state to do so in an effort to broaden its sources of public revenue beyond oil, Bloomberg reported
The 5% levy won’t take effect until 2028 and only applies to annual income of 42,000 rials ($109,000) or above, state-run Omani News Agency said late Sunday. That means that only the top 1% of earners will have to pay the tax, according to the economy ministry.
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