Oman to impose income tax on high earners

Dubai: Oman’s Minister of Finance has announced that income tax will be applied to individuals earning an annual income of RO30,000 or more (equivalent to a monthly income of RO2,500), but it will only be enforced when conditions are suitable for its application.

The Minister further clarified that while the raised Value-Added Tax (VAT) will impact all citizens, the income tax is expected to affect only about one percent of the country’s population.

In 2024, Oman raised approximately RO1.4 billion from various taxes, including corporate, selective, and value-added taxes, contributing to the country's fiscal revenue.