{"id":88256,"date":"2024-11-27T00:00:00","date_gmt":"2024-11-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/11\/27\/today-big-day-for-saudias-mining-sector-jordan-lines-up-a-new-electricity-bill\/"},"modified":"2024-11-27T00:00:00","modified_gmt":"2024-11-27T00:00:00","slug":"today-big-day-for-saudias-mining-sector-jordan-lines-up-a-new-electricity-bill","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/11\/27\/today-big-day-for-saudias-mining-sector-jordan-lines-up-a-new-electricity-bill\/","title":{"rendered":"TODAY: Big day for Saudia\u2019s mining sector + Jordan lines up a new electricity bill"},"content":{"rendered":"

Good morning, folks. <\/strong>The news cycle doesn\u2019t appear to be slowing down as we inch closer to the weekend, with huge mining investment news from Saudi and the latest on Jordan\u2019s new electricity bill. Let\u2019s dive right in.<\/p>\n

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WATCH THIS SPACE-<\/p>\n

<\/a><\/strong>#1-<\/strong> Jordan\u2019s <\/strong>EV<\/strong> imports should start rolling in: <\/strong>12k EVs are expected to clear customs in Jordan by the end of the year after the government moved to cut its September tax targeting the vehicles, Al Mamlaka<\/a> reports, citing freezone authority rep Jihad Abu Nasser. The government halved recent taxes imposed on EV imports exceeding JOD 10k, which represented as much as 80% of the EV market in the Kingdom, Jordan News Agency (Petra)<\/a> reported. <\/p>\n

The breakdown: <\/strong>EVs valued at JOD 10-25k will see their tax rates go down from 40% to 20%, whereas those above JOD 25k will be taxed at 27.5% instead of 55%. The exemption is valid until the end of the year and applies to EVs stuck in warehouses and free zones before the decision was announced, while those who had already cleared their cars past customs can apply for a refund.<\/p>\n

REMEMBER- EV sales were slowing in Jordan: <\/strong>No EVs priced above JOD 10k (c.USD 14.15k) had been cleared for sale<\/a> since the government's decision to progressively increase taxes on luxury EVs. The tax hike \u2014 announced in September \u2014 created a financial crisis for traders, with most unable to sell vehicles due to the significantly hiked costs. The decision left many vehicles stuck at ports, as cars priced above JOD 10k saw price increases of around 60%.<\/p>\n

Importers saw the impact of the September tax coming:<\/strong> Jordan\u2019s Council of Ministers' decision to lower a tax on gasoline vehicles and progressively increase taxes on EVs<\/a> was criticized by EV importers as \u201cunjustified\u201d and \u201cunfair,\u201d which warned it would lead to a \u201cstate of paralysis in the free zone and the automobile sector.\u201d <\/p>\n

<\/a><\/strong>#2- <\/strong>The UAE mulls pollution-charging system:<\/strong> The UAE is considering rolling out a pollution-charging mechanism to incentivize companies to reduce greenhouse gas emissions, Bloomberg<\/a> cites Eva Torreblanca, a director at the Abu Dhabi\u2019s Environment Agency\u2019s policy and planning division, as saying. The Climate Change Ministry is currently reviewing proposals from the agency, including\u2026 <\/p>\n