The Jordanian Cabinet, led by Prime Minister Jafar Hassan, has extended the exemption from fees for unlicensed vehicles until January 30, waived prior re-registration fees for long-unlicensed vehicles, and revised investment incentives for industrial projects. The measures aim to enhance tax compliance and stimulate economic growth and development initiatives in various sectors.
In a recent Cabinet meeting led by Prime Minister Jafar Hassan, the Jordanian government has officially announced the extension of the exemption from additional fees for unlicensed vehicles until January 30. This decision covers vehicles that have remained unlicensed for over a year, providing relief from past acquisition and re-registration fees. This initiative aims to facilitate the regularization of vehicle status, enhance road safety, and simplify the licensing process for long-unlicensed vehicles, as reported by the Jordan News Agency, Petra.
Moreover, the Cabinet approved adjustments to the investment incentive policy for small and medium-sized industrial projects in the Karak Industrial Institution, eliminating the prior requirement for a minimum investment of JD15 million. Projects that generate at least 40 percent local added value and employ a minimum of 150 Jordanian workers will now benefit from reduced utility costs and labor subsidies regardless of investment size.
In further efforts to stimulate economic growth, the Cabinet supported the recommendations from the settlement and conciliation committee for resolving impending disputes between 270 companies and taxpayers, alongside the Income and Sales Tax Department. These measures align with the government’s Economic Modernization Vision and aim to enhance tax compliance.
The Cabinet also sanctioned the allocation of 3,024 dunums of land in Ghor Al Ghamr and Qreiqra by the Jordan Valley Authority’s Board of Directors for palm and fruit cultivation projects operated by the Wadi Araba Development Company. Additionally, the Jordan Duty-Free Company has had its free zone license renewed, permitting operations at Marka Civil Airport until April 30, 2025. Notably, a grant of 200,000 euros from the Spanish government has been approved to fund the modernization of the National Centre for Human Rights in Jordan.
This article highlights critical economic decisions made by the Jordanian Cabinet during a meeting, showcasing efforts to support vehicle owners through extended exemptions on licensing fees, promote industrial investment, and enhance tax compliance. The initiatives are designed to drive economic growth while improving local compliance and safety standards. The allocated land for development and renewed licenses for companies indicates a long-term strategy for agricultural enhancement and retail growth in Jordan.
In conclusion, the Cabinet’s decisions reflect a comprehensive approach to improve economic conditions in Jordan by extending vehicle licensing exemptions, modifying investment incentives to attract smaller projects, and facilitating resolutions between companies and tax authorities. By prioritizing road safety, supporting local employment, and fostering agricultural development, the government is taking significant steps toward achieving its Economic Modernization Vision.
Original Source: jordantimes.com
