Jordan’s Government adopted a revised version of the Draft Law on Income Tax, while a Royal Decree was passed to include the draft law and four other amended laws under the preparation of the Special Session of the National Assembly currently being held.
The Prime Minister announced the adoption of the law based on dialogues with Vocational Unions, Political Parties, Civil Society, Chambers of Industry, Trade and Agriculture, and then sent it to Parliament as required by the Constitution. A number of amendments have been introduced to the amended draft. Among them, a raise in the tax imposed on the banking sector from 35% to 37%, raise on family’s tax exemption on the annual income from 17 thousand dinars to 18 thousand dinars, a reduction on tax exemption on the salaries of retirees by one thousand dinars, in inclusion of the tax for their monthly salaries to 3500 dinars per month instead of 2500 dinars per month.
The amended draft included tax exemption on social solidarity funds in vocational unions from income tax from the amounts paid to exempt the heirs. The Government introduced in the draft a new division labeled "very high income", which is more than one million dinars annually and accounts for 30 percent.
Source: (el-Nashra Website, Edited)
