Capital city: Amman
Currency: Dinar (JOD)
GDP: USD$86.2 billion
GDP per capita: USD$8,661
Jordan, officially The Hashemite Kingdom of Jordan, is an Arab kingdom on the East Bank of the Jordan River (bordered by Saudi Arabia, Iraq, Syria and Israel). Jordan is named after the Jordan River, where Jesus is said to have been baptised.
Jordan is strategically located at the crossroads of Asia, Africa and Europe and has been inhabited by humans since the Paleolithic period. Jordan is rich in Paleolithic remains, holding evidence of inhabitance by Homo erectus, Neanderthal and modern humans (dating back 250,000 years).
On 15 May 1948, as part of the 1948 Arab–Israeli War, Jordan invaded Palestine and took control of the West Bank. Jordan signed a military pact with Egypt just before Israel launched a preemptive strike on Egypt to begin the Six-Day War in June 1967. The Arab states were defeated and Jordan lost control of the West Bank to Israel.
Jordanian resident corporations are only taxed on their Jordanian sourced income. The corporate tax rates in Jordan are applied based on the industry/business activities from which the taxpayer generates income. According to the income tax law, the corporate tax rates are as follows:
- 35% for banks.
- 24% for telecommunication, insurance, financial companies, electricity and mining companies.
- 14% for the industrial sector.
- 20% for other companies.