JBA Chief Highlights Importance of Cabinet Decision to Restructure Tariffs | Business

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Ammon news –

Jordanian Businessmen’s Association (JBA) President Hamdi Tabbaa stressed the importance of the Cabinet decision on Sunday to restructure the tariff which came “at the right time” and would have an impact ” positive “on economic productivity and competitiveness.

The Jordanian business community has always called for reducing tariffs and alleviating the effects and difficulties that have weighed on the private sector, in addition to the consequences and repercussions related to the Covid-19 pandemic on various economic sectors, a Tabbaa pointed out.

He said the reduction of tariffs on the private sector will help improve the performance of Jordanian economic sectors, restoring commercial activity, combating customs evasion, increasing revenues and reducing the prices of raw materials. .

Tabbaa also added that reducing the number of tariff categories from 11 to 4 will alleviate complications, simplify customs procedures and help facilitate the flow of goods to the local market.

The multiplicity of customs and tax categories has “negative” impacts on doing business, attracting investment and revenue for the Treasury, while the maintenance of the policy of continuing to impose “high” customs levies will increase. import costs and will complicate customs procedures, according to Tabbaa.

Stressing the need to protect and support local industry, he stressed the importance of continuous consultation with the private sector, especially with regard to any amendment or decision based on the law that “directly” affects its activities. .

(Petra)


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