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Income tax to be reviewed in Oman

 
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rustyrockets



Joined: 06 Sep 2015
Posts: 78
Location: Thinking about it...

PostPosted: Tue Dec 01, 2015 10:34 pm    Post subject: Income tax to be reviewed in Oman Reply with quote

Apparently it is happening and it is already being reviewed by the majlis alshura. Do you think it will actually transform in reality? how will it impact Oman's attractiveness for foreign workers?

for more info: http://www.timesofoman.com/article/72758/Oman/Government/Economic-and-Financial-Committee-at-Majlis-Al-Shura-to-form-working-teams-to-study-specific-draft-laws
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travelbug66



Joined: 27 May 2015
Posts: 26

PostPosted: Wed Dec 02, 2015 11:50 am    Post subject: Reply with quote

Having read the article, I don't think there is anything to worry about too soon. The Omani Government is already considering raising the tax on companies profits from 12 to 15 percent, and even that is raising a lot of debate. Currently companies with income less than 300,000 riyals are exempt from paying taxes. Before they even think of personal income tax, they will start with taxing companies.
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1st Sgt Welsh



Joined: 13 Dec 2010
Posts: 946
Location: Bandar Seri Begawan, Brunei

PostPosted: Wed Dec 02, 2015 11:56 am    Post subject: Reply with quote

I'm only on my second year here and this is the second time for me that this has come up. Apparently, it's been discussed off and on for years and not much has ever come of it. However, with oil prices the way they are....
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