Gov't injects half a billion dinars in tax rebates this year | Business | Ammon News


Gov't injects half a billion dinars in tax rebates this year


[4/27/2020 10:17:16 AM]

AMMONNEWS - Finance Minister Mohammad Al-Ississ said Monday that the Ministry has secured liquidity to cover private sector financial dues, amounting to 150 million dinars, which will be disbursed in April and May.

The move, he said, comes to enable the private sector to continue the production process with efficiency and revitalize the Jordanian economy.

He stressed that ensuring the availability of the liquidity for citizens and the private sector at the present time in light of the economic fallout from the coronavirus pandemic, is a form of response to face the repercussions of the crisis, and is an indicator of the positive economic measures and the resilience of the Jordanian economy, and is also in line with the economic stimulation strategy the government had pursued since early in the year.

Al-Ississ added that providing the liquidity is a reiteration of the government's pledge to deliver on all its previous obligations, and not to create new financial arrears, which have a negative impact on the treasury.

Regarding the sectors to which financial dues were paid, he said that 15 million dinars were transferred this month to the Income and Sales Tax Department, which will complete procedures to transfer them to the accounts of the taxpayers (individuals and companies) who are entitled to tax rebates.

Also, 10 million dinars have been allocated to the Ministry of Public Works to be disbursed to contractors, in addition to 10 million dinars to Health Ministry hospitals, 10 million to pharmaceutical companies and warehouses, 10 million for oil derivatives, and 5 million for the accounts of the University of Jordan Hospital and the Royal Medical Services, he said, adding that the rest will be disbursed in May.

The Finance Ministry has paid 350 million dinars in previous financial dues and arrears to the private sector in the last week of 2019 and the first week of 2020, bringing the total amount directly injected into the national economy to about half a billion dinars.

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