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Jordan increases taxes, lower expenses to boost revenues

22 Jun 2016

(MENAFN) Jordanian government has approved new rules right after signing an agreement with the International Monetary Fund (IMF).

In detail, Jordan has set immediate fiscal measures to raise revenues and cut spending this year, a government source said.

Basically, the crucial measures will include raising taxes on alcoholic beverages, smoke and property transfer fees for used vehicles.

It’s worth mentioning that Jordan has completed a three-year Stand-By Arrangement with the IMF worth nearly USD2 billion back in Aug-2015.

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