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FinancialNews


  • 12-09-18

    Jordan to introduce new income tax bill to generate USD395m

    (MENAFN) Jordan was unveiled to be implementing a new income tax bill which aims to generate about USD395 million in extra revenues next year.

    The purpose behind the new law is to boost the growth of economy, along with guaranteeing social unity and tackle tax evasion, as explained Jordan's Prime Minister Omar Razzaz.

    Ahead of reaching the Lower House, the law is assured to be receiving the opinion of Jordanians, the Prime Minister Razzaz stressed.

    The prime minister noted that the law was not hit with pressure from entities while it was being drafted.

    The law was also confirmed to have no impact on 90 percent of the military retirees, civil servants and Social Security Corporation (SSC) subscribers.

    Razzaz added "it is not easy to sell the law to the public in light of the current difficult economic conditions and we stresses that it is tailored towards the well to do companies and individuals."

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