Jordan News | Latest News from Jordan, MENA
August 1 2021 2:23 PM ˚

‘No new tax hikes imposed under new sales tax draft amendments’

Draft seeks to accelerate refunds, close legislative gaps exploited for evasion

(Photo: Unsplash)
(Photo: Unsplash)
  • +
  • -
AMMAN — Income and Sales Tax Department consultant Moussa Al Tarawneh said that the amended draft of the Income and Sales Tax Law comes in response to the demands of merchants and industrialists, as it is based on giving back refunds from total collected tax, rather than from allocating separate funds for tax refunds.اضافة اعلان

Under the new amendments, according to Tarawneh, refunding timeframes would be cut to the third, as there would be no need for waiting for allocations from next year’s budget, which enhances businesses’ liquidity and revitalizes economic activity.

The proposed amendments do not entail imposing or increasing any taxes, according to the consultant, rather it resolves “gaps and distortions” that lead to tax evasion, by ensuring that providers of both goods and services will be treated equally when it comes to taxation.

The Jordan News Agency, Petra, said that the amendments, referred to the Prime Ministry by the Finance Ministry on Saturday, seeks alignment with international standards regarding subjecting both goods and services to the sales tax.

According to Petra, the new amendments also seek to combat tax evasion by bridging the gaps in the law, and hastening the reimbursement of tax refunds.

Read more Business