Jordan's tax revenue set to rise again
Tax revenues are likely to exceed the government’s target for this year, according to an official who expected the amount to hit JD3 billion.
In 2011, tax revenues reached JD2.764 billion and were higher by around 5 per cent than the funds collected in the previous year, according to official figures.
The official, who preferred to remain unnamed, said recent government policies such as raising taxes on automobile, real estate, mobile calls and fuel products among other services and goods would bring more revenues for the treasury, particularly from the general sales tax.
According to Income and Sales Tax Department (ISTD) Spokesperson Musa Tarawneh, revenues collected by the department during the first eight months of the year are 6 per cent higher than the same period of 2011.
He expected the upward trend to continue.
Tarawneh told The Jordan Times on Monday that overall revenues generated between January and August were JD2.02 billion, up from JD1.9 billion collected in the first eight months of the previous year.
According to ISTD figures, revenues from the income tax were JD613 million by the end of August compared to JD581 million collected during the first eight months of 2011.
Revenues made from the general sales tax increased from JD1.3 billion during the January-August period last year to JD1.4 billion, the department’s figures showed.
- With Sisi likely to take over, how will Egypt's 'military economy' look like?
- Will future talks between the IMF and Egypt help the country's economy?
- Is Iran's economy already thriving amidst limited sanctions relief? Apparently so!
- Invest your wealth or each person for himself? Growth and tackling inequality are the key
- Will UAE's new law really boost SME development in the emirates?