AMMAN — The
Jordanian Duty Free Markets Company reported that 91 percent of its sales in 2022 were
from tobacco, with a value of JD59 million, according to a local media outlet.
اضافة اعلان
Official data
released by the company revealed that the total sales of the
Jordanian Duty Free Markets in 2022 amounted to about JD64.9 million, an increase of
approximately 53 percent compared to 2021.
In 2021, the
Cabinet announced that sales of tobacco and
alcoholic beverages sold to
travelers in the company's markets on border crossings would be subject to
general and special taxes, as well as customs fees.
Company's net
profit RisesThe company's
net profit after taxes and allocations increased significantly to JD8.44
million, compared to a net profit of JD161,000 in 2021. The total profit of the
company for 2022, after deducting the cost of sales, was about JD22.605
million, compared to JD10.846 million recorded in 2021.
The
Jordanian Duty Free Markets Company obtained a renewal of its exclusive right in Jordan
for 10 years starting from May 1, 2022. The company is committed to paying the
General Treasury JD25 million, payable in annual installments, in exchange for
granting the exclusive right.
Exemptions and
allowancesIn addition to
the exclusive rights, the company is entitled to a monthly service allowance of
13.55 percent and a
monthly customs service allowance of 1.5 percent of the
total monthly sales achieved in the duty-free markets, which are not subject to
the same fees, taxes, and customs applied in the customs area as operating
expenses, and an annual allowance of 20 percent of the net annual profits of
the operational company for
duty-free markets, starting from the 2022 fiscal
year, including the profits of 2022.
According to
the agreement, the group is exempted from
income tax on its activity in the
duty-free markets for a period of six years from the date of the agreement's
entry into force, and 2022 is considered the first year of exemption.
The company's
board of directors decided to distribute JD13.5 million as profits to
shareholders, equivalent to 60 percent of the paid-up capital, for the profits
of 2022.
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