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Doing Business in Jordan

Published in February 2019

Jordan is strategically located at the crossroads of Asia, Africa and Europe. The capital, Amman, is Jordan's most populous city as well as the country's economic, political and cultural centre. It’s a semi-arid, almost-landlocked country with a population of some 10 million making it the 11th-most populous Arab country. It has a land area of 89,342 km2 (34,495 sq mi).  The dominant religion is Sunni Islam, practiced by around 95% of the population, the second biggest religion is Christianity.  Jordan is often referred to as an "oasis of stability" in a troubled region. 

In 1948 Jordan accepted refugees from multiple neighbouring countries that were at war. Some 1.4 million Syrian and 2.1 million Palestinian refugees are located according to the 2015 census. Jordan has also welcomed thousands of Iraqi Christians escaping persecution by ISIL. While Jordan continues to accept refugees, the recent large influx from Syria placed substantial strain on national resources and infrastructure. 

The United Nations classify Jordan as a country of "high human development" with an "upper middle income" economy. The Jordanian economy, is attractive to foreign investors based upon a skilled workforce.  In the 70’s Jordan's GDP per capita rose by 351%, declined 30% in the 1980s, and rose 36% in the 1990s, and Jordan is classified as an emerging market.  Since King Abdullah II’s accession in 1999, Jordan has been growing at an annual rate of 8%. However, since the Arab Spring erupted growth has slowed to around 2% and 3% in more recent years.  

Jordan has Free Trade Agreements with the Canada, Singapore, United States, Malaysia, the Tunisia, European Union, Libya, Algeria, Syria and Turkey.  Other FTA's are in the pipeline with Iraq, the Palestinian Authority, the GCC, Lebanon, and Pakistan. Jordan is a member of the Greater Arab Free Trade Agreement, the Euro-Mediterranean free trade area, the Agadir Agreement, and also enjoys advanced status with the EU. 

Jordan is a founding member of the Arab League and the Organisation of Islamic Co-operation. The sovereign state is a constitutional monarchy, but the king holds wide executive and legislative powers.
 
This portal incorporates live data feeds from:

The World Bank
The observatory of Economic Complexity

The intention is to provide access to live information extracted from the regularly refreshed databases maintained by these organisations.

 

 

 

Use the navigation buttons below to access to more live data:
Inflation, Development indicators, Exports, Trade Balance, and more.

World Bank Development Indicators

Exports

This graph is taken from The Observatory of Economic Complexity (OEC). Products, represented by rectangles, are drawn from the 775 individual product classes found in the Standardized International Trade Code.

This graph shows volumes of goods exported from Jordan.

Imports

This graph is taken from The Observatory of Economic Complexity (OEC). Products, represented by rectangles, are drawn from the 775 individual product classes found in the Standardized International Trade Code.

This graph shows volumes of goods imported into Jordan.

Trade Balance

This graph is taken from The Observatory of Economic Complexity (OEC).

This graph illustrates the subsequent trade balance of exports and imports to and from Jordan.

Destinations

This graph is taken from The Observatory of Economic Complexity (OEC).

This graph shows the destinations of goods and services by country.

 

Business Opportunities in the EMEA Region:

EU-UK Trade and Cooperation Agreement (TCA) 
UK VAT Requirements
(January 2021) 

Technical Alert: EU-UK Trade and Cooperation Agreement (TCA), UK VAT Requirements

An update to earlier 'Post Brexit UK VAT Requirements 

On 1 January 2021, the UK formally left the EU after the end of its transition period. A new “Trade and Cooperation Agreement” was reached in principle between the UK and EU on 24 December 2020. The deal will cover the future UK-EU relationship, with the two parties having now implemented the agreement.

What impact does this have on the previously foreseen changes from a VAT & Customs perspective?
For more information, contact with the author of the Technical Alert: 

Chiene + Tait LLP VAT Support
Iain Masterton
Indirect Tax Director
+44 131 558 5800
Iain.masterton@chiene.co.uk
Connect with AGN UK Firms. AGN International has an expansive and diverse list of AGN firms in the UK.

BIG TAX INCENTIVES TO LIVE, WORK AND INVEST IN ITALY! 
     (February 2020) 

The Italian Government has introduced measures intended to encourage workers and entrepreneurs to move to, and invest in, Italy:
  • HIGH NET WORTH INDIVIDUALS – 100K€ LUMP SUM TAX 
  • SPECIAL TAX REGIME FOR WORKERS AND (INDIVIDUAL) ENTREPRENEURS TRANSFERRING THEIR RESIDENCE TO ITALY
  • 7% FLAT TAX FOR FOREIGN PENSIONERS TRANSFERRING THEIR RESIDENCE TO ITALY

For further information and take action, please contact us.

Find the AGN Firm best prepared to serve you


BREXIT 3: AN UPDATE – WHERE TO NOW?       (December 2019)

The UK’s new Conservative-led government now has a clear parliamentary majority of 80 seats to enable it pass into law the Brexit Withdrawal Agreement (the ‘Deal’) by the deadline of the 30 January 2020.

So it would seem the election result has brought some clarity. Or has it?

On the 12 December 2019 the Conservative party won Britain’s General Election with a large majority and thus with it the power to fulfill their pledge to secure parliamentary approval of the Brexit Withdrawal Agreement by Christmas and leave the EU by 31 January 2020.

Despite the positive initial reactions of capital and currency markets, as well as they party’s election slogan “Get Brexit Done”, this isn’t the end of the matter. That is because the Withdrawal Agreement contains only the legalities around the divorce of Britain from the EU. It does not cover the future relationship.

So in fact, this is probably only the end of the beginning of the Brexit process. Prime-Minister Boris Johnson now has until December 2020 to agree a favorable forward-looking trade deal with the EU. Although he has until 30 June 2020 to ask for a further extension of Britain’s regulatory transition (standstill) period with the EU, Mr Johnson insists he will not ask for any extension. If a deal is not reached, Britain would then revert to World Trade Organisation tariffs and rules (i.e. a ‘No Deal’ or Hard Brexit).

Thus we are likely looking at another cliff edge deadline. Trade deals historically have taken years to deliver, but there are only some 6 months until the 30 June deadline. Perhaps because negotiations are not starting from scratch (it being a case of altering trade arrangements that are already in place) the PM must presumably be confident that a deal can be reached within this time, and is said to be looking as the so-called “Canada-plus” model.
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Tax Publications

TAX CARDS 2020

A summary of tax facts of countries in the EMEA region


Check how relevant taxes are regulated in several countries in Europe, Middle East and Africa. Updated in 2020.

read full publication

AGN News in the EMEA Region:

March 2020

Press Release: Saudi Arabian Firm Joins AGN Membership




AGN International – one of the world’s leading associations of independent certified public accounting and consulting firms, announces that Al Sudais CPAs has joined its membership in the EMEA region. The firm, established in 2016, is located in Khobar, Riyadh, and Jeddah, in the Kingdom of Saudi Arabia and provides local and international clients with assurance, tax and consulting services, specialising in several business industries and sectors.

Read the Press Release

October 2020

Press Release: Polish Firm Joins AGN Membership




AGN International – one of the world’s leading associations of independent certified public accounting and consulting firms, announces that JRD has joined its membership in the EMEA region. The Polish firm provides complete and practical solutions related to audit, tax, legal and accounting services for international enterprises. Clients consist of entrepreneurs, small and medium enterprises and corporate customers. 

Read the Press Release

AGN Firms in the country


Jordan
Adel Habib & Co
Abbas Mahmoud Alaquad Street
Jabal Amman 2nd Circle
P.O. Box 84
Amman 11118
Time Zone:
Phone: (+962 6) 461 9229
EMail: adel@adelhabib.com