Domestic revenues rose by JD797m in 2022

The exterior of the Income and Sales Tax Department in Amman. (Photo: Twitter)
(File photo: Jordan News)
AMMAN — Last year, domestic revenues increased by JD797 million to reach JD8.122 billion, up from the JD7.325 billion recorded in 2021, the Ministry of Finance said in its monthly bulletin on Wednesday.اضافة اعلان

Tax revenues rose by about JD421 million and non-tax revenues by about JD376 million. The coverage of current expenditures by domestic revenues reached 90.7 percent, reflecting the government’s approach to enhancing financial independence, the Jordan News Agency, Petra, reported.

Tax revenuesThe bulletin showed that the rise in tax revenues is due to raised general taxes on goods and services, which contributed an additional JD128.8 million in 2022 compared to the previous year. An increase in income and profit tax collections also contributed an additional JD368.6 million.

This chance can be attributed to government measures to revise tax regulations and administrative and structural procedures in its fight against tax evasion.

ExpendituresMeanwhile, public expenditures increased by JD608 million in 2022 to reach JD10.466 billion, up 6.2 percent compared to 2021. This increase is mainly due to the rise in current expenditures by JD233.7 million, or 2.7 percent, year-on-year, and the increase in capital expenditures by JD374 million, or 32.9 percent.

Furthermore, spending on social protection also went up by JD184 million compared to 2021, according to the bulletin.

Public debtGovernment debt amounted to JD30.667 billion last year — 88.5 percent of the estimated GDP — and it totaled JD28.763 billion (88.6 percent) in 2021.

Read more Business
Jordan News