Oman will introduce a 5% personal income tax starting January 1, 2028, targeting individuals earning over OMR 42,000 (approximately $109,100) annually. This marks a historic shift as the first such tax in the Gulf region, aimed at reducing the country’s heavy reliance on oil revenues and ensuring long-term fiscal sustainability under Oman Vision 2040. About 99% of Omani citizens will be exempt, with additional deductions allowed for education, healthcare, housing, zakat, donations, and inheritance. The tax law, issued by Royal Decree No. 56/2025, includes 76 articles and will be supported by a digital filing system to promote compliance, with executive regulations to be released within a year. (ICE DUBAI)

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