News

Jordan: The increase in the percentage of the telecom and electricity taxes

2018-09-13

According to “Ammon” news website the draft income tax law prepared by “Al-Razaz” government included an increase in the tax rate on the telecommunications companies, the distribution and electricity generation companies, the insurance companies and reinsurance companies to 26%.

The tax on mining companies of basic materials, brokerage companies, financial companies and legal persons who engage in financial leasing activities will be also increased to 30%, in addition to the fixation of the bank tax at 35%.

The draft law of the government includes the completion of the tax on the taxable income of the legal person according to the following percentages:

1- Thirty-five percent on each dinar for the banks.

2- Thirty percent on each dinar for the mining companies of basic materials, brokerage companies, financial companies and legal persons, who are engaged in financial leasing activities.

3 - Twenty-six percent for each dinar for the basic telecommunications companies, distribution and electricity generation companies, and insurance and reinsurance companies.

4- Twenty percent of each dinar to any other legal person.

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