Cabinet announces exemptions for merging insurance companies | Jordan News | Ammon News



Cabinet announces exemptions for merging insurance companies


[10/17/2017 3:30:35 PM]

AMMONNEWS - The Council of Ministers has offered a set of exemptions to encourage insurance companies to merge, according to a recent decision published in the official gazette.

The exemptions included the income tax, annual fees levied under the law regulating the insurance sector, for a period of three years, transfer charge and fees for raising capital.

The decision was passed upon a recommendation by the Jordan Investment Commission to address the decline that affected the insurance sector over the last years and prop up insurance firms to establish larger entities, which can better compete and offer an advanced insurance product.

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