The declaration of the Aqaba Special Economic Zone (ASEZ) has been postponed by the cabinet until February 15th, officials were quoted as saying by the Jordan Times newspaper.
The cabinet's decision followed intensive consultations with the ASEZ's board of commissioners and related government branches, notably, the customs department, explained one of the sources.
“We wanted to finalize inventories of taxed goods already on the Aqaba quays and grant merchants a grace period to adapt to the new status,” the source added.
Head of the commissioners' board, Mohammad Kalaldeh, said importers were given a February 10th deadline to tabulate and report their goods before they order new shipments under the new regulations.
The new set of rules and bylaws, to go into force by mid-February, will govern the flow of goods to and from Jordan's maritime outlet under a seven per cent sales tax and a flat five per cent income tax, said the paper.
The sales tax, a major earner for the deficit-saddled Treasury, is set at 13 percent elsewhere throughout the Kingdom.
Kalaldeh urged the existing 70 firms at Aqaba to modify their positions and register within the new mechanism ahead of the launching date.
The chief commissioner stressed that all 18 regulations governing the ASEZ have been endorsed by the cabinet, said the paper.
Officials had hoped the ASEZ would be operational by January 31.
The ASEZ, a pioneering project launched by King Abdullah, is designed to attract 6 billion dollars in foreign investment and create 70,000 jobs over the next two decades -- Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
