Gov’t decision to cut taxes will prop up garment sector, says syndicate
Tax exemptions and reductions announced by the government will enhance the apparel and leather industry’s purchasing power, revitalize the economy and reduce the impact of rising global freight rates, the sector’s association said.
Reacting to the decision to standardize tax at 5% and exempt over 53 per cent of imported commodities from customs fees, said the Apparel, Leather and Textile Traders Association, adding it will help turn Jordan into a strategic production, industrial and reproduction hub, generate jobs and promote shopping tourism.
The decision is a “step in the right direction” as it activates sectors associated with the clothing, textile and leather business, including transport, tourism, restaurants and clearance, strikes fairness among commercial sectors and narrows the gap between the postal and traditional parcel trade.
The syndicate said it will look into the positive and negative effects of the government’s decision to reduce customs duties and assess the tax and customs burden of imports and exports after six months, and offer proposals and solutions to the cabinet in this respect.
Source: Jordan News Agency