Jordan: Study warns of consequences from higher income taxes
A recent study conducted by the Amman Chamber of Commerce showed that amending the income tax rate would threaten the business environment in the Kingdom.
Noting that a progressive increase will cause some sectors to pay around 40 per cent in extra taxes, the study said proposed amendments will negatively affect the investment environment and lead to lower foreign investments. According to representatives from the commercial and service sectors besides financial and legal experts, the proposed rates do not take into account the current economic situation which is hammering a large number of sectors. They said higher tax is one of the reasons behind tax evasion.
- Is the Syrian crisis boosting Jordan's agricultural exports? Kingdom sees more than Dead Sea product exposure with 2014's increased fruit, veg, sheep trade abroad
- The only way is up! Dubai index pushes back, makes inroads to recover November performance
- What's its secret? Kuwait sustains non-oil growth for two years
- The reliable consumer: China on track to become biggest export market for GCC by 2020
- After the GCC 'happy' summit, is a customs union closer to reality?