Parliament's committee passes draft income tax law

Home Jordan News Parliament's committee passes draft income tax law 11-11-2018 02:52 PM Ammon News - AMMONNEWS - The Lower House of Parliament's Committee on Economy and Investment on Sunday approved a draft income tax law following weeks of debate and study of the bill. According to the new bill the committee has endorsed, the threshold for individuals will be JD10,000 in 2019, but will go down to JD9,000 in 2020. The tax threshold for households will be JD20,000 in 2019 down to JD18,000 in 2020. Under the new draft, households will have an exemption of JD3,000 a year covering medical and education expenses as of 2020, in addition to JD2,000 tax relief for the disabled. Head of the Committee, MP Khair Abu Saileik, said the committee introduced a JD1-million exemption to farmers and revoked a proposed 20-percent tax on the industrial sector. Further, the committee canceled another proposed social solidarity tax and replaced it with a national contribution tax targeting those whose income exceeds JD200,000 a year. The Lower House will begin debating the draft on Tuesday in two morning and evening sessions.

Home Jordan News

Parliament's committee passes draft income tax law

11-11-2018 02:52 PM

Ammon News - AMMONNEWS - The Lower House of Parliament's Committee on Economy and Investment on Sunday approved a draft income tax law following weeks of debate and study of the bill.

According to the new bill the committee has endorsed, the threshold for individuals will be JD10,000 in 2019, but will go down to JD9,000 in 2020. The tax threshold for households will be JD20,000 in 2019 down to JD18,000 in 2020.

Under the new draft, households will have an exemption of JD3,000 a year covering medical and education expenses as of 2020, in addition to JD2,000 tax relief for the disabled.

Head of the Committee, MP Khair Abu Saileik, said the committee introduced a JD1-million exemption to farmers and revoked a proposed 20-percent tax on the industrial sector. Further, the committee canceled another proposed social solidarity tax and replaced it with a national contribution tax targeting those whose income exceeds JD200,000 a year.

The Lower House will begin debating the draft on Tuesday in two morning and evening sessions.

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