Settlement Transfers
التاريخ
Ref. :1/7/17
Date: 02/01/2019
Memo No.
(1/2019)
Members of SDC of Brokers
Dear General Manager,
Subject: Settlement Transfers
| Greetings, | |
| Referring to the amended Income Tax Act N. (38) of the year 2018 that came into effect as of January the 1st of 2019. And to the official letter of the Income and Sales Taxation Department Ref. N. 6/4/58 dated January 2, 2019 regarding the collection of an Income Tax of (0.08)% (eight per each ten thousand) of the value of the sold shares from the seller and the same percentage to be collected from the buyer for each sell transaction., and authorizing the Securities Depository Center (SDC) to collect and transfer this tax to the public treasury’s account as of the 1st of January 2019. | |
| And referring to the Jordan Securities Commission’s letter N. 6/1/03284/18 dated December 30, 2018 regarding the holding of the deduction made for the Investors Protection Fund as of January the 1st of 2019. | |
| Please be informed that the SDC took the following Actions as of January 2, 2019: | |
| 1. | Cease the deduction of (0.0001) “One per each thousand” of the market value of the shares taken from each party of the transaction. |
| 2. | Collect the new Income Tax of (0.0008) “eight per each ten thousand” of the value of the sold shares from the seller and the same percentage from the buyer for each sell transaction on a daily basis within the Clearing and Settlement operations conducted by the SDC. |
| Therefore, please reflect the above mentioned updates to your accounting systems, noting that the SDC has updated the Brokers’ electronic system in relation to the financial settlements and the reports provided by the system to reflect the above mentioned updates. | |
Kind Regards
Khalil Naser
Chief Executive Officer
