Tax law under review to ‘expand individual taxpayers base’ — minister

AMMAN — Finance Minister Omar Malhas on Saturday said that authorities are reviewing the income tax legislation with a view to expand the base of individual taxpayers. 

At a meeting with the board of directors of Amman Chamber of Commerce (ACC), the minister said the Income and Sales Tax Department (ISTD) is reviewing the Income Tax Law in order to introduce amendments to meet the recommendations of the Parliament and the financial reform programme, and is expecting the amended law to result in increasing individual taxpayers, a statement e-mailed to The Jordan Times by the ACC said.

He said that the ISTD was also considering the unification of taxes on the industrial, commercial and agricultural sectors, providing that the move would not negatively affect local revenues. 

Malhas said the agency was also examining the possibility of imposing a minimum income tax rate on companies, adding that once the amendments are finalised, the department would meet with representatives of the chambers of industry and commerce and concerned civil society organisations to discuss the proposed changes. 

The minister said thegovernment is going on with controlling expenditure and addressing flaws that have affected the national economy over the past years, adding that economic reforms aim at improving the living standards of Jordanians. 

The government, he said, would constantly review incentives to economic sectors to make sure they serve the envisioned goals, the ACC statement said.

Malhas stressed that the government would not rescind the measures it took some two months ago to raise taxes and fees on certain goods and services as part of a deal with the International Monetary Fund. 

ACC President Issa Murad called on the government to stop taking decisions that may affect the Kingdom’s business environment and stressed the importance of stability in legislation, according to the statement.