New shopping centers tax-exempted to develop underprivileged regions

shopping mall shopping center
(Photo: Envato Elements)
AMMAN — The Ministry of Investment said the Cabinet's agreed to exempt materials needed to build and equip new shopping centers countrywide from customs duties and maintained a zero% sales tax on these businesses, according to the Jordan News Agency, Petra.اضافة اعلان

In a statement on Thursday, the ministry said the Cabinet's decision came based on the Economic Development Committee's recommendation, which is pursuant to previous studies conducted by the Ministry of Investment, to develop the Kingdom's "underprivileged areas" and provide a stimulating investment environment in the country's governorates.

The construction area for these new projects should not be less than 10,000 sq.m, while in the capital governorate at 30,000sq.m, as the decision stipulated.

In addition, the new businesses should also house recreational activities, primarily cinemas, or parks and tourist-attraction facilities, and the exemption decision excluded districts within Amman, Zarqa, and Irbid governorates.

The decision also applies on three phases of construction, equipment, and furnishing for a 5-year period only, which would allow construction completion, the decision explained.

To carry out the move, the Council of Ministers tasked the Ministry of Investment to set the foundations and mechanism for the exemption terms, which were set for new projects only and excluded existing or under-construction shopping centers.

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