Jordan’s imports have been steadily increasing over the past decade, with the country now importing a wide range of items from around the world. Imports of consumer goods, industrial equipment, and raw materials have all contributed to economic growth. The import sector has also helped to create jobs and stimulate economic activity in the country while providing access to a wide range of products and services.
Imports have also helped to reduce the country’s reliance on domestic production while providing access to a wider range of goods and services. This has resulted in increased economic growth, increased employment, and increased consumer spending. Because of the success of the import sector, many entrepreneurs have attempted to establish their importing businesses. If you are considering starting a similar business, make sure to read all of the information provided below as it may be useful.
Import taxes in Jordan
The import taxes in Jordan are based on the Harmonized System (HS) of tariff codes. This system is used to classify products and services and determine the applicable tax rate. The tariff codes are divided into three categories: A, B, and C. Category A is for items that are subject to the highest rate of tax, while Category C is for goods that are subject to the lowest rate. The rate of tariff varies depending on the type of items or services being imported. These categories are further detailed below.
Jordan Customs employs the Customs Incorporated Tariff System (CITS), which allows buyers to calculate product levies, import situations, trade deals, restrictions, and other criteria.
It is important to note that the import taxes in Jordan are not applied to all goods and services. Certain goods and services are exempt from the tariff, including medical supplies, food, and books. Furthermore, some products and services are subject to reduced levy rates. This is done to ensure that the taxes are not overly burdensome on businesses and individuals.
Tax rates
The import duty rates are designed to promote economic development and foreign investment, while still ensuring that the government can generate sufficient revenue.
When it comes to cars, machines, chemicals, raw materials, and electronics, the tax rate in Jordan is currently set at 10%. This rate is lower than many of its regional competitors, making it an ideal location for businesses looking to expand their operations. Additionally, the government of Jordan has also implemented several exemptions and incentives for businesses looking to import items into the country.
Various import taxes
To start porting in Jordan, it is essential to understand the various types of import taxes that are in place in the country.
The first type of tariff is customs duty, which is a tariff imposed on items imported into the country. This levy is based on the value of the goods and can be as high as 20%.
Another type of tariff is the value-added levy, which is a duty imposed on the value of the products imported into the country. This tariff is typically between 5% and 15%. The third type of levy is excise duty, which is a tax imposed on certain items imported. This levy is typically between 10% and 30%.
Finally, the fourth type of duty is the sales tax, which is a tariff imposed on the sale of goods imported into the country. This tax is typically between 5% and 10%.
Laws regarding imports
To ensure that imports are properly regulated in the country, the authorities have implemented various laws on imports and taxes. The most common law is the Customs Law, which states that all products imported must be declared to the Customs Department and must be accompanied by the relevant documents.
Another law is the Excise Tax Law, which requires that certain items imported into Jordan are subject to an excise levy. This tariff is levied on goods such as alcohol, tobacco, and fuel, and is used to finance public services and infrastructure projects.
