Cabinet extends reduction of general tax for vegetable oils

Home Business Cabinet extends reduction of general tax for vegetable oils 02-06-2022 09:23 AM Ammon News - The Cabinet Wednesday decided to extend an order to reduce the general sales tax on vegetable oils to 0% instead of 4% until the end of August. The decision seeks the reduction of prices of vegetable oils for citizens in light of the high prices of vegetable oils globally. The Cabinet also approved the integrated industrial partnership initiative for sustainable economic development, which was signed between Jordan, the UAE and Egypt earlier this week in Abu Dhabi. The Minister of Industry, Trade and Supply, Youssef Shamali, briefed the Cabinet on the initiative, its importance and desired goals, noting that it came in response to the outcomes of the summit, which brought together His Majesty King Abdullah II, Egyptian President Abdel Fattah al-Sisi and UAE President Sheikh Mohammed bin Zayed Al Nahyan in Ramadan. Shamali added that the initiative establishes "unprecedented" cooperation to achieve economic integration in many areas, especially industry, noting that it came at an excellent time in light of the world's challenges. "We rely a lot on the initiative to contribute to promoting investment and increasing exchange between Jordan, the UAE and Egypt, which would contribute to creating job opportunities and achieving the aspired economic growth," he said. He pointed out that a meeting of the ministers of the three countries concerned will be held on Thursday to develop a clear mechanism to start work on implementing the projects of the initiative.

Home Business

Cabinet extends reduction of general tax for vegetable oils

02-06-2022 09:23 AM

Ammon News - The Cabinet Wednesday decided to extend an order to reduce the general sales tax on vegetable oils to 0% instead of 4% until the end of August.

The decision seeks the reduction of prices of vegetable oils for citizens in light of the high prices of vegetable oils globally.

The Cabinet also approved the integrated industrial partnership initiative for sustainable economic development, which was signed between Jordan, the UAE and Egypt earlier this week in Abu Dhabi.

The Minister of Industry, Trade and Supply, Youssef Shamali, briefed the Cabinet on the initiative, its importance and desired goals, noting that it came in response to the outcomes of the summit, which brought together His Majesty King Abdullah II, Egyptian President Abdel Fattah al-Sisi and UAE President Sheikh Mohammed bin Zayed Al Nahyan in Ramadan.

Shamali added that the initiative establishes "unprecedented" cooperation to achieve economic integration in many areas, especially industry, noting that it came at an excellent time in light of the world's challenges.

"We rely a lot on the initiative to contribute to promoting investment and increasing exchange between Jordan, the UAE and Egypt, which would contribute to creating job opportunities and achieving the aspired economic growth," he said.

He pointed out that a meeting of the ministers of the three countries concerned will be held on Thursday to develop a clear mechanism to start work on implementing the projects of the initiative.

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