Magazine date:
Jul 2018 The Jordanian government is planning to introduce a new law increasing the taxation of insurance companies. The government project aims to increase the tax rate for insurance companies from 30% to 40%.
For professionals in the sector, this decision will not only stand as an impediment to their activities but also jeopardize their development projects.
Jordanian insurers are penalized by a very low level of premiums, especially in motor insurance. As a result, many companies have given up coverage of this class of business.
For companies that have lost money in the past, this project will only weaken them even more.