A gulf country has decided to amend the labour and tax laws. Oman government has decided to amend the labour and tax laws in the country. This was announced by the foreign minister of Oman, Sayyed Badr Al Busaidi.
As per the minister, the Oman government is planning to amend the ‘No Objection Certificate’ system. The anew law will remove the requirement for expatriate employees in Oman to obtain a No Objection Certificate (NOC) from their existing employer, in order switch jobs within Oman.
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The minister also said that the Oman government is planning to introduce new taxation and end some “long-standing” subsidies. But this will be introduced while ensuring that low-income families are protected.
Earlier Oman government has announced that income tax will be introduced in the country. Oman has decided to launch income tax for high earners. The tax will be implemented in 2022. This was announced by the finance ministry in Oman in its ‘Economic Plan 2020-2024’.
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