DRM at JOD3.4bln during Jan-May period

Domestic Revenue Mobilisation (DRM) rose to JOD3.37 billion during the January-May period, compared to JOD3.06 billion in the same period in 2021, a JOD3.07 million increase.

According to the Ministry of Finance, the increase in DRM was due to the JOD279.8 rise in tax and JOD28 million in non-tax revenue.

The increase in tax revenue was a direct result of the market recovery and the JOD198.5 million increase in income and profit tax revenues. The increase in revenue was made possible by not increasing taxes but by adopting stricter rules and the conformity of taxpayers to submit their annual income tax returns, in addition to effective reforms to the tax system that limited tax evasion.

The increase in non-tax revenues was due to a rise in the various revenues by JOD66.9 million, in light of the improvement in the performance of companies.

The total spending during the first five months of 2022 stood at JOD3.980 billion, a JOD203.5 million increase, as spending on social protection increased by JOD67.5 million.

Source: Jordan News Agency