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Jordan imposes major tax increases under IMF guidance
The Jordanian government has announced a major package of tax increases
under the guidance of the International Monetary Fund, which it says is necessary to gradually lower the record level of public debt and to restore the economy damaged by the regional conflict to growth again.
According to Reuters, the package announced by the state media includes the removal of exemptions from the general sales tax on some goods and the consolidation of the rates of exemption between 4 and 8 percent on a large number of goods at 10 percent and left at 16 percent, the maximum tax , On other commodities, as well as raising special taxes on tobacco and high-quality gasoline and reducing customs duties.
"The delay in implementing the much needed reforms to provide at least 540 million dinars ($ 761 million) in additional revenues will increase the already high financial needs and affect the public finances of the country," Prime Minister Hani al-Mulqi said.
In 2016, the IMF approved an ambitious three-year program for long-overdue structural reforms to reduce public debt by 2021 to 77 percent of GDP from a record 99 percent.
http://economy-news.net/content.php?id=10632
The Jordanian government has announced a major package of tax increases
under the guidance of the International Monetary Fund, which it says is necessary to gradually lower the record level of public debt and to restore the economy damaged by the regional conflict to growth again.
According to Reuters, the package announced by the state media includes the removal of exemptions from the general sales tax on some goods and the consolidation of the rates of exemption between 4 and 8 percent on a large number of goods at 10 percent and left at 16 percent, the maximum tax , On other commodities, as well as raising special taxes on tobacco and high-quality gasoline and reducing customs duties.
"The delay in implementing the much needed reforms to provide at least 540 million dinars ($ 761 million) in additional revenues will increase the already high financial needs and affect the public finances of the country," Prime Minister Hani al-Mulqi said.
In 2016, the IMF approved an ambitious three-year program for long-overdue structural reforms to reduce public debt by 2021 to 77 percent of GDP from a record 99 percent.
http://economy-news.net/content.php?id=10632
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