The Association of Banks in Jordan held a dialogue session during which the latest legislative and technical developments related to the draft Land and Building Tax Law were discussed. Participants included representatives of the banking sector and officials from the Greater Amman Municipality.

The session featured a presentation of the newly proposed mechanisms for tax assessment, which rely on modern technical tools to minimize human bias and enhance fairness and objectivity in calculating the tax, thereby reflecting the true value of each property.

Dr. Maher Al-Mahrouq, the Director General of the Association of Banks, stressed during the session the importance of preserving the attractiveness of investment in the real-estate market, warning against any tax measures that might adversely affect investment flows. He further emphasized that banks accord the financing of real-estate projects the highest priority within their lending policies.

Representatives of the Greater Amman Municipality clarified that the draft law does not increase the current tax rate, noting that their computational trials have shown a reduction in tax liability in many cases compared to the existing law.

This session is part of a series of meetings organized by the Association of Banks to foster dialogue with official bodies on legislation affecting the banking sector and its role in supporting economic growth.