What does Oman's new income tax mean for the Gulf?

What does Oman's new income tax mean for the Gulf?

Author: The National News July 9, 2025 Duration: 20:19
The absence of income tax has helped to attract people from around the world to move to the Gulf. But one country is set to change direction. Oman recently announced it will be the first country in the region to introduce personal income tax. While some countries, including the UAE and Saudi Arabia, have other types of taxes, such as VAT, on most goods and services, Oman is making history with a levy on personal income. The tax is not set to take effect until 2028, but it has already raised questions about whether other Gulf states will follow suit. Deepthi Nair, Assistant Business Editor, discusses the subject with David Daly, a partner at the Gulf Tax Accounting Group in the UAE.

Tune into Business Extra for a clear-eyed look at the forces shaping commerce in the Middle East and beyond. Produced by The National News, this podcast moves past the headlines to deliver substantive conversations with the analysts, executives, and innovators driving change. Each episode leans on the deep regional expertise of our editors and reporters, who translate complex developments in markets, energy, and technology into accessible insights. You’ll hear grounded discussions that connect local trends to global patterns, offering a necessary perspective on one of the planet's most dynamic economic landscapes. Whether it's a shift in oil policy, a tech startup's rise, or a new trade agreement, this series provides the context often missing from daily news cycles. For anyone with a stake in understanding how business really works in this pivotal region, Business Extra is an essential listen, blending authoritative journalism with genuine curiosity. The result is a consistently informative podcast that feels less like a briefing and more like a series of insightful conversations with people who have their finger on the pulse.
Author: Language: English Episodes: 100

Business Extra
Podcast Episodes
What will Syria’s revalued currency mean for its economy? [not-audio_url] [/not-audio_url]

Duration: 19:55
Syria’s central bank has announced plans for a currency overhaul that will involve eliminating two zeros from its pound and printing new banknotes. The Syrian pound has lost more than 99 per cent of its value since the s…
What's behind US-UAE nuclear partnership? [not-audio_url] [/not-audio_url]

Duration: 21:42
Nuclear energy can be a flashpoint for tension in the Middle East.Now, though, it's taking new light. A handful of Gulf countries, including the UAE, have signed new agreements with the US in the past few months – each n…
Donald Trump's new tariffs and the Middle East [not-audio_url] [/not-audio_url]

Duration: 19:27
New US tariffs are coming into effect this week. US President Donald Trump's newest deadline of August 1 is his latest attempt to secure trade agreements with vital global economies – and bring in more revenue for the US…
What new US crypto laws mean for the future [not-audio_url] [/not-audio_url]

Duration: 22:15
Crypto has reached a critical moment in its history. The US released a slew of game-changing bills for cryptocurrency last week, signalling a long-anticipated seal of approval of crypto from the world’s largest economy.…
How to own property in Saudi Arabia [not-audio_url] [/not-audio_url]

Duration: 17:49
A whole new property market is to open up to international buyers and it is from the Middle East’s largest economy. Starting in January 2026, Saudi Arabia will allow foreign investors to buy property in the kingdom. It h…
Emiratisation and the future of work in the UAE [not-audio_url] [/not-audio_url]

Duration: 16:35
For decades, most Emiratis have worked in government roles. But now, thousands are joining private companies as part of a nationwide plan to balance the workforce. Early iterations of Emiratisation began in the 1990s, wi…