Increase of taxation charge in Jordan

The council of ministers has approved a draft bill pertaining to corporate tax. According to the new regulation, the taxation rate will be raised to 40% of the profits generated by financial institutions, including insurers.

This rate is set at 30% for mining companies, 24% for companies operating in telecommunication and 20% for commercial businesses. Industrial firms will be required to pay taxes comprised between 15 and 20%.

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