Amman: The Council of Ministers has enacted significant amendments aimed at resolving outstanding tax issues and modernizing finance laws. The new measures allow for the settlement of tax files, even those exceeding JOD1 million, where final judicial decisions have been issued. Additionally, taxpayers with claims from the Public Funds Directorate at the Ministry of Finance will be exempt from financial fines if certain conditions are met by the end of 2024. According to Jordan News Agency, these initiatives are part of a broader government strategy to stimulate economic growth and recover funds due to the treasury, aligning with the Economic Modernisation Vision. Furthermore, the Council approved an amended bylaw for the Finance Companies Law for 2024, providing a structured framework for finance companies under the Central Bank of Jordan's supervision. This aims to enhance the competitiveness and stability of the finance sector by introducing flexible regulations that account for business size and promote i nnovation. The Council has also endorsed a supplementary grant agreement with the German Development Bank, allocating £15 million to the National Water Carrier Project. This project, which is poised to be the third-largest desalination initiative in the Middle East, is expected to supply 300 million cubic meters of potable water. It includes facilities in Aqaba and a transmission line stretching 450 km. Additional regulatory advancements include the approval of the Coastal Areas Management Bylaw for 2024, aimed at preserving the marine and coastal environment in the Aqaba Special Economic Zone. The Ministers have also sanctioned the Expertise and Arbitration Bylaw in Sharia Courts for 2024, designed to enhance arbitration practices. Moreover, the draft declaration for the Third World Disability Summit, co-organized by Germany and Jordan, has been approved to ensure development projects are inclusive of persons with disabilities.
