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Iran Israel Tensions: In order to prevent Iran from being rich, its important nuclear installations were attacked by Israel. After this, there is a tremendous tension in the Middle East due to the landing of America in the war. As a counter -step step from Iran, the US air base and Israel are being hit strongly. Amidst all this, the neighboring country of Iran has announced that, as has never happened in the middle East. Till date, no country of Middle East has ever taken any such step, whether it should do Iran, Iraq, Saudi Arabia or UAE. In such a situation, let us tell which country of the Gulf and what he has announced.
What happened?
Actually, Oman is a neighbor of Iran. It has taken the step towards economic reform, which will change the entire economic picture of the country. Oman has taken an important decision to implement the Income Tax Act here, the first to do the same in the Middle East will become the first country in the Middle East. Oman’s economy minister Saeed bin Mohammad Al Sakri says that its aim is to gradually reduce the dependency above the oil income, preserving social expenses. Quoting the government Omani agency, Bloomberg has stated in its report that 42,000 riyals i.e. $ 1,09,000 or more will be applicable to annual income. After the implementation of this Income Tax Act, the top one percent income will be affected.
What will be the benefit?
Compared to other Gulf countries, Oman is now taking steps to gradually reduce its dependence on oil from oil. Regarding this, Monica Malik, the chief economist of Abu Dhabi Commercial Bank, while talking to Bloomberg said that its scope is limited, despite this it will prove to be an important financial development step.
According to Monica Malik, Oman’s income tax may prove to be helpful for other GCC countries in future income tax. It is worth noting that this is an important step of Oman in the direction of reforms in the Gulf countries because no member of the Gulf Cooperation Council of 6 countries ie GCC imposes income tax. In such a situation, this sector has attracted high salary and foreign labor for work. In such a situation, this decision is considered very important.
Also read: Goldman Sachs warning between Israel-Iran War, the whole world will yearn for oil
