Oman is making history (and headlines) by becoming the first Gulf country to introduce an income tax — and it’s targeting the top 1% earners. As fossil fuel demand fades, the move marks a bold shift from oil money to income tax to fund services and stay future-ready. And hey, the IMF says other Gulf nations might follow soon!
- 🧾5% income tax on earnings above 42,000 Omani rials ($109K)
- 🎯Applies only to top 1% of income earners
- 🛡️Goal: protect public services, cut oil dependence
- 🌍Other Gulf nations likely to follow suit, says IMF
👉 Why this matters: A tax-first Gulf means serious change is coming for expats, businesses, and global investors.
🔗 Source: Bloomberg
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