Oman is set to introduce an income tax on high earners starting in 2021, potentially becoming the first-ever GCC state to do so. Oman's finance ministry announced it is considering rolling out unprecedented income taxes to bridge the country's budget deficit after oil prices crashed with the onset of the coronavirus pandemic.The measure, part of the country's 2020-2024 economic plan, would also see to the reduction of government spending, reports said.None of the six Gulf Cooperation Council states – all oil-revenue reliant countries – currently collect taxes from individuals. According to Reuters, the plan – still being studied – aims to bring down Oman's fiscal deficit from a preliminary
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