ISTD director defends amended sales tax law as world-class – MENAFN.COM

ISTD director defends amended sales tax law as world-class – MENAFN.COM

(MENAFN - Jordan News Agency) Amman, June 21 (Petra) -- A bill amending the current General Sales Tax Law is in favour of law-abiding corporate taxpayers by introducing the "commodity or service supply" and the Kingdom's "tax region" concepts, according to Hussam Abu Ali, Director of the Income and Sales Department (ISTD). Abu Ali told a meeting Monday with members of the Jordan Chamber of Commerce (JCC) that both concepts are global practices applied in more than 160 countries, adding that the bill seeks to speed up the payment of rebates to traders and other corporate taxpayers. The draft law defines the supply of goods as: "the sale of goods from one party to another or transferring property rights, while the service supply is defined as: the supply that does not include the sale of goods. The tax region is the lands and territorial waters of the Kingdom except for free zones, the Aqaba Special Economic Zone and duty-free markets."The ISTD director said corporate taxpayers will be able to collect their tax refunds after 3 months instead of 9, and will be able to file for refunding after 2 months instead of 6, indicating that the current law contains "loopholes"