The Cabinet of Jordan has decided to extend the exemption of fees for unlicensed vehicles until January 30, 2025, while also approving changes to investment incentives for small industrial projects. Additional measures include resolving tax disputes, allocating land for agricultural development, renewing operational licenses for duty-free companies, and securing a grant from Spain to modernize human rights initiatives in the country.
The Cabinet, in a session led by Prime Minister Jafar Hassan, extended the exemption of unlicensed vehicles from additional penalties until January 30, 2025. This exemption applies to vehicles that have not been licensed for over a year, eliminating past acquisition and re-registration fees. The measure aims to facilitate vehicle owners in regularizing their licensing status and enhancing road safety. Furthermore, the Cabinet approved policy amendments to incentivize small and medium-sized industrial projects in Karak by removing the previous JD15 million investment threshold, allowing projects with at least 40% local added value and sufficient employment of Jordanian citizens to receive reduced utility costs and labor subsidies regardless of investment size. Additionally, recommendations were endorsed to resolve fiscal disputes between numerous companies and the Income and Sales Tax Department, in alignment with the government’s Economic Modernisation Vision, aimed at improving tax compliance. The Cabinet also sanctioned plans for land allocation to cultivate palm and fruit projects and extended the free zone license for the Jordan Duty-Free Company at Marka Civil Airport until April 30, 2025. A grant of 200,000 euros was approved from the Spanish government to modernize the National Centre for Human Rights in Jordan.
On December 24, 2024, the Cabinet of Jordan discussed significant economic decisions in light of the nation’s Economic Modernisation Vision. The measures are designed to foster compliance with licensing regulations, promote investment in the industrial sector, and enhance local economic growth. The government’s focus is on creating supportive environments for both existing and new businesses, particularly small and medium enterprises, while also attending to land development and human rights initiatives through international contributions.
In summary, the Cabinet’s recent decisions reflect a concerted effort to enhance vehicle licensing compliance, stimulate local industries, and resolve taxpayer disputes. The extension of exemptions for unlicensed vehicles is a strategic move to promote road safety and legal vehicle operation. The focus on investment incentives and international cooperation signifies a robust approach towards fortifying Jordan’s economic landscape and ensuring adherence to modernization goals.
Original Source: jordantimes.com
