Fiscal Policy Narrow macroeconomic imbalances and manage risks
Due to limited fiscal space which is reflected to be one of the key constraints in meeting Jordan's growth objective and development aspirations, this Pillar is implementing several reforms to enable Jordan to preserve debt sustainability and maintain monetary and financial sector stability.
Achieved
GoJ’s Macro-fiscal Framework developed (first copy)
Public Financial Management Strategy 2022 – 2024 published
Medium-Term Fiscal Framework developed and appended with the General Budget Laws
GoJ’s Macro-fiscal Framework developed (second copy)
First Macro-Fiscal outlook and Risk Report Published
Achieved
Sales tax exemptions reduced
Full taxes increased
Hybrid car fuel subsidies reduced
New Income Tax Law adopted
Medium Term Revenue Mobilization policy approved
Transfer pricing mechanism amended
Taxation rules introduced in GST Law
ASEZA’s Law amended to expand jurisdiction of ISTD and Customs to cover Aqaba Special Economic Zone
Anti-smuggling of cigarettes mechanism implemented
National Billing System introduced
National Billing Program launched
Electronic audit of tax returns through artificial intelligence implemented
In Progress
National Tax Accounting Program launched
Implementation plan and roadmap for reform projects and programs within the strategic plan developed
Achieved
Debt Management Strategy (2019 – 2023) updated to include contingent liabilities
Debt Management Strategy (2020 - 2024) updated and published
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