JORDAN TO LAUNCH NATIONWIDE DIALOGUE OVER CONTROVERSIAL INCOME TAX BILL

A Jordanian official said on Sunday that, a nationwide dialogue will be launched to reach a consensus on the controversial income tax bill. “The dialogue will include all segments of society, including professional associations and stakeholders.”

Earlier in the day, Jordanian Minister of Finance, Omar Malhas said that, the bill was necessary to boost fiscal reforms and enhance fiscal stability in Jordan. The law will help improve Jordan’s credit rating and reduce its public debt, which represented about 95.3 percent of the GDP, by the end of 2017, he said.

Meanwhile, the Council of Professional Associations in Jordan, decided to hold a sit-in, in protest of the law.

At a meeting with heads of associations on Saturday, Prime Minister, Hani Mulki, said, it was difficult to withdraw the law, which is a fiscal reform required by a 700-million-U.S.-dollar extended fund facility, established between Jordan and the International Monetary Fund in 2016.

The bill mainly aims to improve tax collection, curb tax evasion and boost tax revenues, which are expected to increase by 300 million Jordanian dinars (423 million dollars), annually. In addition, the proportion of income taxpayers in Jordan is expected to rise from 4.5 percent to 10 percent, once the bill is enacted.

Source: NAM News Network