Oman today_ Oman will implement a new tax called the Domestic Minimum Top-up Tax (DMTT) at a rate of 15% starting from January 2025. This tax will apply to multinational companies with annual revenues exceeding OMR 300 million (approximately USD 779 million). Additionally, the government’s earlier plan to introduce personal income tax for high-income earners has been put on hold. Under the initial proposal introduced in 2022, starting from 2026, foreign nationals earning over USD 100,000 were expected to pay between 5% and 9% in taxes, while Omani citizens with global income exceeding USD 1 million would have been taxed at a rate of 5%.
Oman to Implement 15% Tax on Multinational Companies Starting January 2025
