Treasury to Make JOD841m in Oil Tax Returns in 2017

تم نشره في Thu 13 July / Jul 2017. 12:00 AM
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AMMAN —AlGhad— An informed ranking official, who preferred anonymity, stated to AlGhad that the Treasury is expected to make JOD841 million in oil tax returns this year, 2017, based on the overall annual sales estimate of 4.1 billion litres.

These returns are made via the quantities sold by the government to the three oil derivatives marketing and sales companies operating in Jordan.

Demand on fuel and oil derivatives grows 4 per cent, roughly, on an annual bases.

Every year, between 80 thousand and 100 thousand new cars enter Jordan.

The government imposes 6 to 24 per cent tax on sales per litre of diesel, kerosene, and octane fuels, respectively, in addition to a unified 0.6 per cent deducted fee.

Fuel prices are calibred on a monthly basis according to the global market price index per barrel of oil, plus refinery costs.

The global oil price index has dropped to USD46.48 per barrel on the monthly average in June, which is why the government has lowered fuel prices through July.