The Jordanian Cabinet decided yesterday December 23 to waive fines on unpaid taxes and fees, if taxpayers settle their dues prior to fixed dates, waiving will include (100%) of fines if the taxes were paid before March 2015, (75%) of fines if taxes were paid before June 2015, (50%) of fines if the taxes were paid before September 2015, and (25%) of fines to be waived if the taxes were paid before December 2015.
The decision covers unpaid dues to the Income Tax and Sales Department, the Jordan Customs Department, municipalities, public universities and the Aqaba Special Economic Zone Authority.
Therefore, fines related to the dues of the tax rate generated from the interest income of investments and any other non-exempted interest income paid by a resident directly or indirectly to a non-resident person including coupon interest payments of government and corporate bonds can be waived according to the new cabinet decision as long as the due taxes are paid within the periods set in the decision.
The tax law n. (28) of 2009 applicable in Jordan clearly states that interest income of investments and any other non-exempted interest income paid by a resident directly or indirectly to a non-resident person including coupon interest payments of government and corporate bonds are taxable at the rate of (7%) to be submitted to the tax department within (30) days of the due payment date.
Delay of payment of such tax rate is subject to a fine of (0,004) of the total tax amount for each week of delay.