Income, sales tax revenues at JD1.25bln in Q1 of 2021

Revenues from the income and sales taxes hit JD1.252 billion in the first quarter of 2021, indicating a major increase of JD159 million from the JD1.093 billion collected in the same period of 2020, according to Hussam Abu Ali, Director of the Income and Sales Tax Department (ISTD).

 

In a statement released Wednesday, Abu Ali pointed out that the January-March collections are 25 percent higher than the figure estimated in this year’s budget for the first quarter of the year.

 

He indicated that sales tax revenue soared by 20 percent or JD159 million in the three-month period, reaching JD969 million against JD810 million recorded in the corresponding period of 2020.

 

Collections from the income tax stood at JD283 million, a figure, according to Abu Ali, similar to that reported in the same period last year.

 

In March alone, revenue from both taxes reached JD385 million compared with JD262 million in the same month of last year, signaling an increase of JD123 million or 47 percent.

 

According to the ISTD director, the rise in tax collections, despite the fallout from the pandemic, is driven by the “ability of some economic sectors to face challenges”, a reform plan undertaken by the department that yielded higher voluntary tax commitment and robust audit procedures.

 

Source: Jordan News Agency