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FINANCIAL NEWS
Jordan to impose taxes to increase revenues
09 Jan 2012
(MENAFN) Jordan’s Finance Minister, Umayya Toukan, said that the government would impose taxes, improve tax collection efficiency and avert tax evasion in order to boost revenues, reported The Jordan Times.
Toukan added that the government had no plans to change subsidies on staples, gas and electricity; however, new taxes would be imposed on a small number of non-basic commodities and services.
He also said that fuel subsidies would be redirected to make sure that beneficiaries are only those with low and middle income people, as they needed them the most, moreover, electricity and water subsidies would witness no change, except for those with high consumption.
It is worth noting that the government plans to apply the fuel derivative pricing formula, according to the prices at the international level, and if the prices stay high, it will pay cash compensations to low and middle income people.
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