Jul 19 2011 |
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Jordan: H1 tax revenues rise
By Omar Obeidat AMMAN -- Tax revenues during the first six months of 2011 increased unexpectedly, despite lowering tariffs on a number of goods and services.Overall revenues received by the Income and Sales Tax Department increased by 2 per cent during the first half of this year, amounting to JD1.613 billion compared with JD1.583 billion during the same period of 2010, according to Finance Minister Mohammad Abu Hammour, who attributed the rise to easier procedures and reforms included in the new Tax Law.
The JD30 million rise in tax revenues was achieved although the government exempted property transactions from taxes, removed sales tax on diesel and kerosene and reduced sales tax on hotels from 16 per cent to 8 per cent, he noted.
Abu Hammour told The Jordan Times yesterday that revenues generated from income tax during the January-June period amounted to JD472 million, almost the same level generated during the first six months of 2010.
The law has also reduced tax evasion, Abu Hammour said, adding that revenues for the entire year are expected to grow.
The increase in revenues proves that the amendments introduced to the income and sales tax law were sound as they intended to boost the Kingdom's economy, he said, adding that easier collection measures were vital in boosting the overall revenues.
© Jordan Times 2011
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