Jordan: Draft Income Tax Law Amended

Analysis

According to local newspaper reports, the draft income tax law has been amended and sent to the House of Representatives for consideration.

Article 11(a) (regarding tax rates for natural persons) has been amended as follows. For the first 10,000 dinars, a 10% tax rate will be applied. For the next 10,000 Dinars, a 20% tax rate will be applied. For the following 10,000 Dinars, a 25% tax rate will be applied.

Article 11(b) (regarding tax rates for legal persons) has been amended as follows. For banks, telecom operators, mining companies, insurance companies and reinsurance companies, brokerage firms, financial companies, including currency exchange companies, and legal persons who are engaged in leasing activities and funding partnerships, a 35% tax rate will be applied. For all other legal persons, for the first 100,000 Dinars, a 15% tax rate will be applied and a 25% tax rate will be applied on the next 250,000 Dinars.

For full story see: http://www.alrai.com/article/601011.html