AMMAN — The
Lower House, headed by Deputy Speaker
Ahmad Al-Safadi, resumed discussion on the draft bill regulating the 2022 investment
environment, Al-Mamlaka TV reported
اضافة اعلان
The 130-member Chamber of Deputies endorsed several articles
of the bill as received from the Lower House Committee on Economy and
Investment after an extensive debate.
In the session, the house agreed to exempt fixed assets,
production input supplies and spare parts for economic activity from customs
duties, despite the provisions stated under the Customs Act.
It was also approved that the lower house, on the basis of
the placement of the
Incentive and Exemption Committee, should issue a table
containing fixed assets, production input requirements and spare parts for zero
taxable economic activity.
The Lower House also agreed to waive or reduce income tax by
at least 30 percent imposed on economic activities in the Kingdom's less
developed regions, or enterprises which employee at least 250 Jordanians for a
maximum period of five years from the actual date of starting the operation.
The approval also included article 12, which stipulates that
the Lower House shall constitute among its members a committee of “Incentives
and Exemptions”, the composition of which shall include the nomination of its president
and the rest of the members.
Deputies also approved the addition of a paragraph by the
committee on economy and investment to the bill prohibiting the chairperson or
any member of the committee from participating in any decision related to an
economic activity.
It also bans the chairperson or any member of the committee
for taking part in an “investment fund or a joint investment fund for which,
spouses, branches or relatives of the committee to the second degree are
directly or indirectly beneficial, each of them shall disclose any benefits
that may accrue to any of them subject to liability”.
To date, the lower house has approved 12 of the 52 articles
of the Investment Environment Law.
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