JordanDownload Full Scorecard
Goal – A comprehensive regulatory regime that is transparent, efficient, simple in its implementation and that leads to accurate reporting of property values and prudent protection from market risks
Core Question: Do market participants feel the overall tax rate is fair and participate in formal transactions? Strong – business tax rates are low relative to the world and its region.
6.1.1 What is the total property transfer tax including all duties and payments? 7.5% – Weak
6.1.2 What is the overall tax rate on entrepreneurs(as a percentage of profits)? Ranking – 35th out of 183, Very Strong – no change in trend
Source: Doing Business 2011 – Paying Taxes & Registering Property, World Bank
SQ 24 What is the tax on profits for foreign investors when divesting property? Very strong
Core Question: Are the professional services necessary for efficient and transparent property markets available and appropriately regulated and supervised? Unknown
6.2.1 Asset Valuers
SQ 25 Are property valuers licensed and/or certified by the government? Unknown
SQ 26 How effective are mechanisms in place to discipline valuers who engage in misconduct? Unknown
6.2.2 Brokers & Agents
SQ 27 Are real estate brokers and agents licensed and/or certified by the government? NO- There is no specific law in Jordan regulating the work of unlicensed real estate agencies. There are a lot of unlicensed agents out there.
SQ 28 How effective are mechanisms in place to discipline brokers or agents who engage in misconduct? Unknown
6.2.3 Mortgage Professionals
SQ 29 Are mortgage professionals licensed and/or certified by the government? Unknown
SQ 30 How effective are mechanisms in place to discipline mortgage professionals who engage in misconduct? Unknown.
Core Question: Are capital markets well-regulated and diversified enough to provide financial resources to private-sector entrepreneurs and innovators? Yes – Strong.
6.3.1 How restricted is the flow of capital into and out of the country? Strong – score 4.55 out of 7, ranking 72nd out of 142
Source: Index of Economic Freedom 2014– Heritage Foundation
6.3.2 Is the regulation of securities exchanges transparent, effective and free of influence from government and industry? Yes – Strong, Ranking 58th out of 142; Score 4.36 out of 7
Source: The Global Competitiveness Report 2011-2012, World Economic Forum
6.3.3 What is the depth of asset-backed securities, mortgage-backed securities, high-yield bonds and highly leveraged loans? Very Strong – 2nd out of 57 countries
Source: Financial Development Report, World Economic Forum
FQ 23 What is the level of taxation for small businesses? Are any of those taxes an excessive burden on small businesses? Are any tax discounts provided for small businesses? Not available yet
FQ 24 What is the experience of small businesses in dealing with professional property market service providers such as real estate agents, brokers and valuers? Not available yet