Jordan Income Tax Amendment Law Approved

Despite protests and the withdrawal of earlier drafts of the law, Jordan's income tax amendment law was approved by royal decree and published in the Official Gazette on 2 December 2018. Some of the main measures of the law include:

• An increase in the corporate tax rate on manufacturing from 14% to 20%, which is phased in with a tax rate discount of 25% in 2019, 20% in 2020, 15% in 2021, 10% in 2022, and 5% in 2023 (for clothing and medicine manufacturers, the relief is 50%, 30%, 20%, 10%, a…