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    JCC urges removal of taxes on vegetable oils as prices soar

    March 21, 2021
    oil and gas

    Amman, Mar. 20 (Petra) -- The Jordan Chamber of Commerce (JCC) on Saturday urged the government to remove customs fees and the sales tax levied on imported vegetable oils following a recent price hike in the local market.

    Imported vegetable oils pay customs fees ranging from 20 to 30 percent and a 4-percent fixed sales tax, which places additional costs on this commodity and ultimately its prices, representative of the foodstuff sector in the JCC, Raed Hamada, said in a statement on Saturday.

    The JCC, he added, had officially addressed the Ministry of Industry, Trade and Supply, to consider the possibility of canceling the customs duties and sales tax imposed on vegetable oils to stabilize prices especially as the holy month of Ramadan approaches.

    Hamada pointed out that the recent increase in the prices of some basic foodstuffs in the local market is driven by higher prices in the countries of origin, as well as the doubling of shipping costs.

    He further indicated that the Kingdom imports vegetable oils from several sources, foremost among which is Malaysia, Ukraine, Russia and the U.S., stressing that their prices are subject to a global price index.

    According to Hamada, 'it is not in the trader's interest to increase the prices of any commodity in light of the current stagnation in commercial activity due to the challenges imposed by the coronavirus pandemic'.

    petra

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