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For this reason... economic calls to review tax laws and develop the collection system
Money and business
Economy News - Baghdad
With the increase in the size of state expenditures in the general budget, there has been talk for years about the issue of
maximizing non-oil revenues,
reforming the tax system in Iraq, and
raising the value of taxes on the wealthy,
which is something that actually needs to address the current laws regarding tax, controlling import operations, and preventing the smuggling of goods through border crossings.
In this regard, economic and financial expert Safwan Qusay revealed the formation of a committee by the Prime Minister to review tax laws, especially the income tax law issued in 1982, indicating that
the law needs to be reviewed to amend some allowances in proportion to current income rates and develop the tax collection system. To reduce tax evasion. He pointed out that
“the proposed increase in tax aims to stop manipulation of invoices related to import operations and reduce tax evasion.” Qusay also confirmed that
“the committee is considering introducing amendments to property and real estate taxes, especially with regard to the transfer of property between individuals.”
Observations 144 Added 09/05/2024 - 2:21 PM
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Money and business
Economy News - Baghdad
With the increase in the size of state expenditures in the general budget, there has been talk for years about the issue of
maximizing non-oil revenues,
reforming the tax system in Iraq, and
raising the value of taxes on the wealthy,
which is something that actually needs to address the current laws regarding tax, controlling import operations, and preventing the smuggling of goods through border crossings.
In this regard, economic and financial expert Safwan Qusay revealed the formation of a committee by the Prime Minister to review tax laws, especially the income tax law issued in 1982, indicating that
the law needs to be reviewed to amend some allowances in proportion to current income rates and develop the tax collection system. To reduce tax evasion. He pointed out that
“the proposed increase in tax aims to stop manipulation of invoices related to import operations and reduce tax evasion.” Qusay also confirmed that
“the committee is considering introducing amendments to property and real estate taxes, especially with regard to the transfer of property between individuals.”
Observations 144 Added 09/05/2024 - 2:21 PM
[You must be registered and logged in to see this link.]
