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Tax revenues in Jordan rise in the first quarter of 2022

Tax revenues in Jordan

Amman, (Business News Report)|| Income and sales tax revenues in Jordan rose significantly during the first quarter of this year 2022, to 1.334 billion dinars ($1.880 billion).

Tax revenues in the same quarter of last year were 1.246 billion dinars, an increase of about 8%.

In turn, Director General of the Income and Sales Tax Department, Hossam Abu Ali, said that the increase in tax revenues in Jordan is due to the results of economic recovery and the return of economic sectors to exercise their role in the sustainable national economy.

He also explained that the growth in tax revenues included income and sales taxes. Income tax revenues during the first quarter amounted to about 346 million dinars from 277 million dinars during the same period last year, while sales tax revenues amounted to 998 million dinars, compared to 968 million dinars in the first quarter of last year.

Abu Ali said that the 25% increase in income tax during the first quarter of this year indicates an increase in taxable income for companies, establishments and institutions during 2021 and the first quarter of this year as a result of the economic sectors returning to production with their natural capacity and the improvement of their production and export activity.

In a separate context, Jordanian real estate witnessed a recovery in sales during the first quarter of this year 2022, in light of stimulus measures for the real estate sector taken by the government.

According to government data, Jordanian real estate sales rose by 37% during the first quarter of the year, compared to the same period last year 2021.

The volume of real estate sales amounted to 1.41 billion Jordanian dinars in the first three months of 2022.

According to data issued by the Department of Land and Survey and published by the official Jordan News Agency, government revenues from Jordanian real estate sales amounted to 63.1 million dinars ($88.9 million), an increase of 48 percent compared to 2019.

The figures for the year 2020 are not included in the comparison period, due to the consequences that the Coronavirus pandemic has had on real estate sales in the Jordanian market.

The department indicated that the estimated value of real estate sales to non-Jordanians during the period between last January and March increased by 58% to 76.5 million dinars ($107.8 million).

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