Oman Tax Update
Type
E-journal
Date
3 Dec 2013
Jurisdiction
Oman
Taxonomy
Nationality & Citizenship, General Tax Law, Payment & Payment Systems
Copyright
LexisNexis
Associated digest links
UAE Tax Update, LNB News 14/10/2013 36
Analysis
Slim Gargouri provides an update on tax developments in Oman, examining recent calls for a foreign remittance tax to be introduced to help ease the Sultanate's budgetary burdens.
Background
In late November 2013, the economic and financial committee of Oman's Shoura Council recommended a tax on foreign remittances by foreign workers be introduced.
The proposed tax rate would be 2% and would cover around 1.5 million migrant workers.
Further information
Ali bin Abdullah al-Badi, the Committee's deputy head, said the measure would not have negative repercussions on the national economy and would provide an additional 62m Riyals to the Treasury.
The potential move comes as the GCC countries are looking more and more to decrease their reliance on foreign labor, particularly the United Arab Emirates and Saudi Arabia.