November 18, 2018 / 3:53 PM / 24 days ago

Jordan's lower house of parliament approves new IMF-backed tax law after introducing changes

FILE PHOTO: Jordan's Prime Minister Omar al-Razzaz and Minister of State for Media Affairs Jumana Ghunaimat arrive for their news conference in Amman, Jordan June 19, 2018. REUTERS/Muhammad Hamed/File Photo

AMMAN (Reuters) - Jordan’s lower house of parliament approved a new IMF-backed tax law on Sunday after introducing some changes in a move to help the cash-strapped economy move ahead with crucial fiscal reforms to ease record public debt.

A majority of deputies in the chamber approved a series of amendments in the 36-article bill that include raising family exemptions to mitigate any impact on middle class income earners.

The bill will still need to go to the upper house or senate for approval before it is enacted as law. It is expected to be effective early next year, officials said.

Reporting by Suleiman Al-Khalidi; Editing by Andrew Heavens

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