Jordanian senate passes income tax draft law

The Senate approved on Tuesday the 2014 income tax draft as referred by the Lower House, in a session headed by Senator Marouf Al-Bakhit, and attended by Prime Minister Abdullah Ensour
The Senate assured that the decision comes within the framework of maintaining the higher national interest, and safeguarding the reputation of the Kingdom and its credibility as far as international institutions and donor countries were concerned. The passage of the bill will also allow Jordan to obtain loans at an affordable cost to reduce the financing gap in the budget.
The move came despite the Senate lacking in conviction regarding the bill and its implications for the country.
The Senate or Upper House also approved its financial committee's recommendations to amend the income tax law, which will be forwarded by the government to the Parliament in its next ordinary session after the panel puts in place the fundamental principles in coordination with all economic and social sectors.