Subscribe and activate the bell (????) and don't miss new episodes every week http://bit.do/fadiyounes --- In this video, I discussed some of the reasons that prompted me to return to Canada after I left last year with the aim of settling and working in the emirate, specifically the emirate of #Dubai, but the most important news that strengthened my decision to return to #Canada is the news of the Sultanate of Oman's intention to impose an income tax for individuals in the coming period, which may be the beginning among all the Gulf countries to implement this tax system followed in most European countries and North America. Oman is about to become the first Gulf country to implement a personal income tax, with the aim of diversifying sources of revenue in addition to oil as part of the Vision 2040 plan. Oman Vision 2040 is the national reference for economic and social planning for the period 2021-2040, and the source of national sector strategies and five-year development plans. The Shura Council, the lower house of the Omani parliament, approved the draft law and referred it to the Council of State, the upper chamber, for final legislative approval. The decision represents a major shift in a region known for its zero-income tax policy, which has historically been used to attract expatriates and stimulate economic growth. According to SICO Investment Bank, Oman’s move could lead to similar measures across the Gulf in the medium term. Oman’s proposed income tax rates are expected to be moderate, likely ranging between 5 percent and 9 percent. The move is aimed at addressing concerns among expatriates and foreign investors. Gulf states have increasingly rolled out various tax initiatives to fund development and reduce reliance on oil and gas revenues. The United Arab Emirates, known for its appeal to the global wealthy, imposed a federal corporate tax on business profits for the first time last year, set at a low rate of 9 percent to maintain a business-friendly environment. Saudi Arabia imposes a 20 percent corporate income tax, while Qatar imposes a 10 percent rate. The UAE, Saudi Arabia, Oman and Bahrain have all implemented a 5 percent value-added tax on goods and services. In response to revenue challenges during the COVID-19 pandemic, Saudi Arabia increased the VAT rate to 15 percent in 2020. Kuwait and Qatar have yet to adopt a VAT system. #Immigration_to_Canada #UAE -- Link to the podcast channel with Fadi Younes: / faditalks (A podcast that discusses social topics about relationships and engagement in Arab societies, customs and traditions related to marriage, the spread of divorce and reluctance to marry... and many personal experiences) --- Link to the travel and vlog channel with Fadi Younes: / fadityounes (Cultural topics, trips, adventures to learn about the culture of the peoples of the world) --- Link to the Fifty Shades of Arabs channel: / fiftyshadesofarab (Arab experiences and topics. Whether about immigration, jobs, social challenges, and many topics of interest to Arab communities around the world)