Oman | Pakistan

Oman issued a royal decree to become the first country in the Gulf to impose a personal income tax, its tax authority said on Sunday, as the small oil producer works to diversify its revenue stream. Oman, among the smaller Gulf economies, launched a medium-term fiscal programme in 2020 to reduce public debt, diversify revenue sources and spur economic growth, which has improved public finances. The sultanate, which still remains largely reliant on oil revenue, will impose a five per cent tax on taxable income for individuals earning over 42,000 Omani rials ($109,091) per year starting from 2028, according to the decree. “The law also includes deductions and exemptions that take into account the social situation in the Sultanate of Oman, such as education, healthcare, inheritance, zakat, donations, primary housing,” the country’s tax authority said in a statement. According to the state-run Oman News Agency (ONA), the plan also contributes to the objectives of Oman Vision 2040 by diversifying income sources an...

The latest round of U.S.-Iran nuclear talks scheduled for Sunday in Muscat will not take place, Omani Foreign Minister Badr Albusaidi said on X on Saturday. Oman has been mediating the talks. Albusaidi’s statement came a day after Israel launched a sweeping air offensive against Iran, killing commanders and scientists and bombing nuclear sites in […]

Prime Minister Muhammad Shehbaz Sharif has emphasized the need to further strengthen bilateral cooperation with the Sultanate of Oman across all spheres.

MUSCAT: The Government of Oman has declared the Eid Al Adha 2025 holidays for the Islamic year 1446 AH. The holidays on Eid’s occasion will start on Thursday, June 5, 2025, corresponding to 9 Zul-Hijjah 1446 AH, and will continue until Monday, June 9, 2025, corresponding to 13 Zul-Hijjah 1446 AH. Employees in government organisations, […]

Oman is expected to produce 62,800 new residential real estate units by 2030, with 5,500 of those hitting the market this year in line with the nation’s strategic goal, according to a recent research from top real estate and consultancy firm Cavendish Maxwell. As 35 new hotels and resorts are expected to open by 2030, […]