AMMAN — Jordan Chamber of Commerce (JCC) on Wednesday expressed reservations regarding the draft laws on investment and taxes, highlighting the adverse effects they will have in their present blueprint on the private sector and the investment environment in Jordan.
At a press conference, JCC President Nael Kabariti said the two proposed pieces of legislation should be drafted together, and submitted to the Lower House as one, because they are interconnected.
Kabariti said although the government reduced taxes on individuals and companies in 2009, there was an increase in the amount of collected taxes.
This means that reducing taxes did not lower government revenues. Accordingly, the government should not consider raising the income tax as a means to reduce the budget deficit, not taking into account the main economic indicators on economic growth, inflation and unemployment, he noted.
