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New taxation by-laws on stock-trading underway
By JT - Dec 12,2018 - Last updated at Dec 12,2018
AMMAN — The Income and Sales Tax Department (ISTD) on Wednesday said that it had prepared draft regulations of the income tax on share trading profits, and will publish them after coordination with stakeholders.
A source at the ISTD told the Jordan News Agency, Petra, that under the 2018 Income Tax Law, all profits of share trading and dividends from companies to individuals are exempted from the income tax regardless of the amount.
The source said that those who sell shares that they owned for a period that exceeds the share trading period will not be subject to tax. Profits of share trading, where the period of buying and selling is short, will be subject to taxation, he added.
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