
Oman to introduce first income tax for high earners from January 2028
According to a report by Gulf News, high earners in the country will have to pay a personal income tax of 5 per cent effective 1st January 2028, as the Sultanate advances fiscal reforms under Vision 2040.
The move is a major step under the Vision 2040 plan, which aims to diversify the economy and reduce reliance on oil revenues.
The main goals of the tax are to boost non-oil revenues, improve fiscal stability, and strengthen Oman's credit ratings. The government aims to raise the share of non-oil revenue to 18 per cent of the country's GDP by 2040.
According to the Tax Authority, this high exemption limit means that about 99 per cent of Oman's population will not be affected by the tax.
The revenue from the new tax will also support social protection programs, including welfare and public services.The new law, issued under Royal Decree No. 56/2025 by Sultan Haitham bin Tarik, will impose a 5 per cent tax on individuals earning more than OMR (Omani Rial) 42,000 per year.
The income tax law is made up of 76 articles across 16 chapters and includes clear guidelines on which types of income will be taxed. It also provides social exemptions for essential expenses such as education, housing, healthcare, zakat, and donations, ensuring fairness and protecting low- and middle-income earners.
To prepare for the rollout, Oman is developing a modern electronic tax system that will link government databases to ensure accurate income reporting and encourage voluntary compliance.
The executive regulations for the new law will be issued within a year of its publication in the Official Gazette.
Karima Mubarak Al Saadi, Director of the Personal Income Tax Project, noted, 'Training, infrastructure, and legal frameworks are already in place. Educational guides for individuals and businesses will be rolled out in phases ahead of the law's implementation.'
In 2024, Oman collected OMR 1.4 billion from corporate, VAT, and selective taxes. The new personal income tax is expected to further strengthen Oman's financial position and make the country more attractive to international investors.
This landmark move follows a broader trend in the Gulf region, where several countries are working to build more sustainable and diverse economies by reducing their dependence on oil income. (ANI)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Hindustan Times
5 minutes ago
- Hindustan Times
'If someone is...': What Smriti Irani said on Bollywood's 'silence' on Op Sindoor
Former Union Minister Smriti Irani has advised people to "not watch" actors if they are offended at their "lack of support" to Operation Sindoor, India's military operation against terror infrastructure in Pakistan and POK, launched on May 7. BJP leader Smriti Irani (ANI) In a TV interview, the politician was asked about chatter around Bollywood's muffled response to the operation that India launched a fortnight after 26 civilians were killed in a deadly terrorist attack in Jammu and Kashmir's Pahalgam. 'If someone is not with the country, and their lack of support offends you, then don't watch them,' she was quoted as saying by an India Today report. 'How can you express your anger (against their silence) as an ordinary citizen? By tunning off," the publication further quoted Irani. The former MP also asserted that if an actor did not support the Army, it did not mean that no one else did. She said the entire country stood with its forces. She also said that India no longer waits for an actor to break silence on an issue and say 'Bharat Mata ki Jai'. "The country has been made aware of these realities," she asserted. Her interview came ahead of her return to television screens again after years in the reboot of popular show 'Kyunki Saas Bhi Kabhi Bahu Thi', in which she will be playing the character of Tulsi Virani. Smriti Irani's remarks came over two months after India and Pakistan got engaged in a military conflict, triggered by Pakistan's targeting of air bases in India. The Indian armed forces said that Pakistan incurred heavy losses, with significant damage to its military infrastructure, including land and air assets. While some actors did heap praise on Operation Sindoor, there was chatter online that Bollywood remained largely silent on the issue, or gave a delayed reaction.


Hindustan Times
an hour ago
- Hindustan Times
Karnataka HC halts deportation of Russian woman's children found living in cave
The Karnataka High Court has intervened to temporarily halt the deportation of a Russian woman's children, emphasising the need to consider their best interests as mandated by the United Nations Convention on the Rights of the Child (UNCRC). Nina Kutina had said there was no danger to her or her children's lives when they lived inside the cave.(ANI) The decision of Justice S Sunil Dutt Yadav came during the hearing of a writ petition that was filed to challenge a sudden deportation order issued against the children. The petitioner, represented by advocate Beena Pillai, argued that the deportation process disregarded the children's welfare and violated UNCRC principles. The assistant solicitor general (ASG), appearing in the matter for the Union of India, informed the court that the children currently lack valid travel or identity documents. Based on this submission, the court observed that immediate deportation was not reasonable at this stage. However, the court stressed the importance of a detailed hearing to thoroughly examine the case. It directed the respondents to submit a written affidavit, confirming the absence of valid documents, and file their objections within two weeks. Additionally, the court issued a clear directive that no deportation plan can be executed without prior intimation to it, effectively stalling any unilateral deportation effort until the next hearing scheduled for August 18. Nina Kutina (40), along with her two daughters Preya (6) and Ama (4), was rescued by police from the Ramatirtha cave at Gokarna in Uttara Kannada district on July 11. Kutina was staying here even though her visa had expired.


News18
2 hours ago
- News18
PM Modi Lands In UK For Two-day Visit, Free Trade Agreement To Be Signed
Last Updated: Talks expected to focus on enhancing economic cooperation, with the proposed India-UK Free Trade Agreement likely to be a key agenda item Prime Minister Narendra Modi has arrived in London for his official visit to the United Kingdom from July 23 to 24. During the visit, PM Modi will hold comprehensive talks with UK Prime Minister Keir Starmer. The leaders will discuss the full spectrum of India-UK bilateral ties and exchange views on pressing regional and global developments. The two sides will also assess the progress of the Comprehensive Strategic Partnership (CSP), with key focus areas including trade and economy, defence and security, technology and innovation, climate action, health, education, and strengthening people-to-people connections. #WATCH | Prime Minister Narendra Modi lands in London, United Kingdom. He is on an official visit to the United Kingdom from 23–24 JulyPM Modi will hold wide-ranging discussions with UK PM Starmer on the entire gamut of India-UK bilateral relations. They will also exchange… — ANI (@ANI) July 23, 2025 Following this, the Prime Minister will proceed to the Maldives for a State Visit from July 25 to 26, during which regional maritime cooperation, security, and development partnerships are expected to top the agenda. During his two-day official visit to the United Kingdom, Prime Minister Narendra Modi is expected to engage in wide-ranging discussions with his British counterpart, Prime Minister Keir Starmer, covering the full spectrum of the India-UK bilateral relationship, as well as pressing regional and global issues, according to the Ministry of External Affairs (MEA). The India-UK partnership, once rooted in historical ties, has evolved into a robust, multi-dimensional and mutually beneficial relationship. The elevation of this partnership to a Comprehensive Strategic Partnership in 2021 marked a significant turning point. Over the past year, PM Modi and PM Starmer have met twice in person, once on the sidelines of the G20 Summit in Brazil (November 2024) and again at the G7 Summit in June 2025, in addition to holding several telephonic conversations. One of the clearest indicators of the strength of bilateral relations is the presence of five Ministerial-level Institutional Mechanisms spanning strategic affairs, economy & finance, trade, energy, and science & technology. Recent high-level dialogues have included the Foreign Office Consultation, Defence Consultation Group, and the 2+2 Foreign and Defence Dialogue. On the economic front, bilateral trade reached a record USD 55 billion in 2024, representing a 10% increase over 2023. A major milestone in the relationship was the announcement of the India-UK Free Trade Agreement (FTA) on May 6, 2025, by both Prime Ministers. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.