From 2028, the Sultanate of Oman will become the first Gulf Arab state to introduce a personal income tax.
This significant change in tax policy marks a new stage for business in the region, where direct taxes on personal income have not traditionally been applied. Oman is becoming more attractive to Russian businesses against the backdrop of tighter regulatory requirements and sanctions compliance. An important factor contributing to this has been the double taxation treaty between Russia and Oman, which will come into force at the end of 2023.
Andrei Gusev, Senior Partner at Nordic Star Law Offices, left his comment on this change:
“In the last two years, clients and owners have really started to pay attention to Oman – in this sense Oman ranks second in discussions after OA among the Gulf states”.
Read more about the topic at the link.