The Cabinet of Jordan, led by Prime Minister Jafar Hassan, has extended the exemption for unlicensed vehicles from added fees until January 30, 2025. Additionally, the Cabinet amended investment incentive policies for small and medium-sized industries and endorsed a resolution for pending cases between taxpayers and the Income and Sales Tax Department. The Cabinet also allocated land for agricultural projects and renewed operational licenses while securing a grant for human rights modernization.
On Tuesday, December 24, 2024, the Cabinet of Jordan convened under the leadership of Prime Minister Jafar Hassan and made crucial economic decisions. One significant resolution was the extension of the exemption from additional fees for unlicensed vehicles until January 30, 2025. This exemption applies to vehicles that have remained unlicensed for over a year, waiving previous registration and acquisition fees. The Cabinet aims to encourage vehicle owners to regularize their vehicle registration status, thereby enhancing road safety and simplifying licensing procedures. Further support was directed towards small and medium-sized industrial projects by amending investment incentive policies, eliminating the previous JD 15 million investment threshold. New projects that achieve a local added value of at least 40 percent and employ a minimum of 150 Jordanian workers will qualify for reduced utility costs and labor subsidies without regard to the investment size.
Additionally, the Cabinet endorsed measures proposed by the settlement and conciliation committee to resolve outstanding tax cases involving 270 companies and taxpayers, aligning with the government’s Economic Modernisation Vision. Furthermore, the Board of Directors for the Jordan Valley Authority was authorized to allocate 3,024 dunums of land for palm and fruit cultivation projects in Ghor Al Ghamr and Qreiqra. The Cabinet also renewed the Jordan Duty-Free Company’s free zone license to operate at Marka Civil Airport until April 30, 2025, and approved a 200,000 euro grant from the Spanish government to modernize the National Centre for Human Rights in Jordan.
The economic decisions made by the Jordanian Cabinet address critical issues regarding unregistered vehicles and investment in small to medium industries. The extension of the licensing exemption is intended to facilitate compliance among vehicle owners and decrease the prevalence of unlicensed vehicles on the road. Moreover, the adjustments in investment incentives underscore the government’s commitment to bolster industrial growth and local employment, aiming to create a more favorable economic environment. Initiatives such as resolving tax disputes signal a proactive approach to improving relations between businesses and the governmental tax authority, promoting better tax compliance and fostering premature economic development.
In conclusion, the Jordanian Cabinet’s recent decisions reflect a strategic effort to enhance the safety of roads by regularizing unlicensed vehicles and stimulate economic growth by amending investment policies. By facilitating tax resolutions and encouraging local employment through industrial projects, the government demonstrates its commitment to fulfilling its Economic Modernisation Vision. These initiatives are vital for driving investment and ensuring a more structured approach to economic development in Jordan.
Original Source: jordantimes.com
