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Government advisor: We are working to develop a tax system that is attractive to investors
economy Yesterday, 12:16
Baghdad - IA
Today, Sunday, the Chairman of the Supreme Committee for Tax Reform and Advisor to the Prime Minister for Economic Affairs, Abdul Hussein Al-Anbaki, announced a three-pronged plan for tax reform.
While he indicated taking facilitating measures related to tax administration, he confirmed the exemption of previous fines for many segments to restore the confidence of those charged with paying the tax.
Al-Anbaki told the Iraqi News Agency (INA):
“Some media outlets interpreted the tax reform as meaning that its purpose is to increase non-oil revenues, and
this interpretation is not scientifically sound,” indicating that
“the primary goal of the tax reform is to create an easy, transparent tax system that is friendly to the business environment.”
It is attractive to investors, because the tax rate is not the basis, but rather the tax rate when multiplied by the tax base, the result is tax revenue.” He continued:
“In tax reform, we seek to make the tax base large,” explaining that
“when the tax base is large, tax revenues will inevitably rise, even if the tax rates are the same and at lower rates.” He added,
"Tax revenues are an incidental result of the state of tax reform and not the basis for which the field of tax reform is launched," noting that
"the Supreme Committee for Tax Reform wants to
achieve tax justice and
make tax accounting easy and transparent, and
does not want there to be cases of "Extortion, obstruction and delay in tax procedures." He pointed out that
"many facilitations have been made that, as a result, lead to restoring the confidence of those charged with paying taxes in the tax administration," noting that
"many brackets have been exempted, the cases of allowances have been expanded, and
they have been exempted from previous fines and accumulated interest for the purpose of restoring the confidence of those charged with the tax administration." He stated,
"When those responsible for accounting come, this will lead to an increase in tax revenues," stressing that
"the purpose of these measures is to create a tax system that is attractive to investors and not to search for an increase in tax revenues only because increasing tax revenues is considered an achievement."
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economy Yesterday, 12:16
Baghdad - IA
Today, Sunday, the Chairman of the Supreme Committee for Tax Reform and Advisor to the Prime Minister for Economic Affairs, Abdul Hussein Al-Anbaki, announced a three-pronged plan for tax reform.
While he indicated taking facilitating measures related to tax administration, he confirmed the exemption of previous fines for many segments to restore the confidence of those charged with paying the tax.
Al-Anbaki told the Iraqi News Agency (INA):
“Some media outlets interpreted the tax reform as meaning that its purpose is to increase non-oil revenues, and
this interpretation is not scientifically sound,” indicating that
“the primary goal of the tax reform is to create an easy, transparent tax system that is friendly to the business environment.”
It is attractive to investors, because the tax rate is not the basis, but rather the tax rate when multiplied by the tax base, the result is tax revenue.” He continued:
“In tax reform, we seek to make the tax base large,” explaining that
“when the tax base is large, tax revenues will inevitably rise, even if the tax rates are the same and at lower rates.” He added,
"Tax revenues are an incidental result of the state of tax reform and not the basis for which the field of tax reform is launched," noting that
"the Supreme Committee for Tax Reform wants to
achieve tax justice and
make tax accounting easy and transparent, and
does not want there to be cases of "Extortion, obstruction and delay in tax procedures." He pointed out that
"many facilitations have been made that, as a result, lead to restoring the confidence of those charged with paying taxes in the tax administration," noting that
"many brackets have been exempted, the cases of allowances have been expanded, and
they have been exempted from previous fines and accumulated interest for the purpose of restoring the confidence of those charged with the tax administration." He stated,
"When those responsible for accounting come, this will lead to an increase in tax revenues," stressing that
"the purpose of these measures is to create a tax system that is attractive to investors and not to search for an increase in tax revenues only because increasing tax revenues is considered an achievement."
[You must be registered and logged in to see this link.]
