Jordan: Parliament Reviewing Corporate Income Tax Regime
Type
E-journal
Date
20 Jun 2012
Jurisdiction
Jordan
Taxonomy
Companies & Corporate Bodies, Income Tax, Financial Institutions, Telecommunications, Mines, Minerals & Quarries
Copyright
LexisNexis
Analysis
Jordan's Parliamentary Financial Panel has announced Income Tax Law is being reviewed to increase government revenue by increasing income tax imposed on some companies and sectors in the country, including telecoms and mining..
According to the panel, current economic difficulties encountered by the government had led to a need to increase revenues.
Companies expected to see their Income Tax increased include:
- telecommunication companies; and
- mining companies who currently pay income tax up to 14% - but if the increase is authorised this could reach 25%.
Banks may also see their income tax increased. They currently pay income tax upto 30% but if the increase is authorised this could reach 35%.
For full story see: http://www.alrai.com/article/521714.html