Gassan Naqel; Rising income tax doesn’t mean rising nation revenues
Gassan Naqel; Rising income tax doesn’t mean rising nation revenues
Amman-Nabatean - Naimat Alkhoura
The chairman of the board of transportation group Ghasan Eilia stressed on increasing income tax and nation revenues should be horizontal rather than vertical through increasing the role from professionals, lawyers, doctors and others who must pay the tax
And he clarify that the timing of the income tax law inappropriate, while the kingdom is affected by rising unemployment rate with the lack of confidence of foreign investors to invest in the kingdom, as well as the lack of growth in the level of exports or local market even that the lack of confidence of taxpayers
And he also added that there is felony in the income tax law then how the Income Tax Court will be the adversary and magistrate at the same time.
Indicating that talking about the turning out the crime into a felony is harsh and the issue must be done gradually by starting to reform the structural problems
In the law and increasing taxpayers
He also reiterated that the crime and the dentition message sent by the law to investors to escape their investments outside the kingdom
And He pointed out that the law its on current situation grant the tax officers weapon of extortion “it’s ok if you don’t want that , “we actually prove it on you and it’s not proved anyway”
Adding if that proved the confirmation of process of lobbying begins to accept a settlement you don’t have any stake in them and you will be in prison”
He also said that “he have a great reservation on the level of maturity tax performance “
When the government reduced the exemption from 12 into 8 to individual and from 24 to 16 for the provider the money wen from the consumption to income tax in thus we influenced on growth and reductions directly from sales tax revenues therefore the decrease in consumption led to lower the sales and profits .
On the other hand, a decrease in income tax,
He appointed out that through The Jordanian Strategy Forum turns out that increasing the tax or reducing the exemptions indirectly would not necessarily increase nation revenues. Regarding the subordination of the branches of Jordanian companies abroad to the income tax, Eilia "will lead to big problems and here is the problem in the definition of the branch, whether the company is a Jordanian or artificial person, and whether the investor is considered a company abroad. "We have had an old problem with our group of foreign branches and they told us that these branches are the source of their funds in Jordan, although the group proved otherwise and this has not been taken into consideration and remains a big burden on the group," he said. "I mean,"I mean, I founded a company that is not operating in Jordan and has no relationship with Jordan to manage investments outside Jordan. I appointed a Jordanian lawyer, a Jordanian auditor, a Jordanian accountant, and I was hired by Jordan, the Minister of Finance returned retroactively to exempt the exemptions. In conclusion, he called for a comprehensive review of the law.
Translated by Diana Hilal
