Individuals with salaries under OMR 2,500 to be exempted from Income Tax, says Oman’s Shura Council

Muscat : Income tax will be exempted for individuals who receive a salary of less than OMR 2,500 per month or OMR 30,000 annually said the Chairman of Economic and Financial Committee at Al Shura Council.

"In the income tax project, the tax is applied to those whose income exceeds OMR 30,000 per year," said

Ahmed Al Sharqi, Chairman of Economic and Financial Committee at Al Shura Council.

Al Sharqi said that with regard to the “Individual Income Tax”, we studied the draft law and analysed its pros and cons, and discussed the appropriateness of the timing of implementing this tax, knowing that there is a large segment of the people of this country exempt from this tax.

"We have amended more than 29 articles of the draft Individual Income Tax Law, with an extensive study on the impact of the individual law and the economic situation”, Al Sharqi added.