Abu Ragheb: 43% tax rise expected on industrial sector

Jordan

Published: 2018-10-07 16:29

Last Updated: 2021-10-22 13:53


Abu Ragheb, President of Amman Chamber of Industry
Abu Ragheb, President of Amman Chamber of Industry

In a meeting with the Jordanian Parliamentary Economic Committee, the new Income Tax Bill (ITB) was discussed with the presence of President of the Amman Chamber of Industry (ACI), Adnan Abu Ragheb.

Abu Ragheb said on Sunday, October 7, 2018, that raising the income tax on the industrial sector would harm about one million Jordanians. He added that the tax rate on the industrial sector is expected to rise by about 43% by 2023, as a result of the new ITB and the cancellation of the export subsidy.

He stressed on the importance of the government finding an alternative to the export subsidy, which will be terminated by the end of this year; 2018.