Oman will join its GCC peers on 15 June in levying excise taxes on a number of selected goods deemed to be ‘harmful’ to health and the environment. Tobacco, energy drinks, alcohol and pork products will all be taxed at 100%, with a 50% levy on carbonated soft drinks. The government reckons the ‘sin tax’ will raise OR100mn ($260mn), a small but badly-needed move towards diversifying revenues away from oil and gas. In reality (as is often the case with such taxes) it is...