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Baghdad, Ahmed Abed Rabbo
confirmed that the Ministry of Finance that the signs of the increase in tax collection Almsthsal of oil companies under licensing rounds will appear next year, demanding government agencies contracting with foreign companies need to presence of their representatives during the conclusion of contracts.
said Director General Commission for Taxes of the Ministry, Kazim Ali Abdullah's (morning) that the nature of the investments in the oil sector are long-term, which does not allow oil companies invested in the fields to reap profits in a period of a few to the existence of operations related to drilling and exploration, stressing that the tax revenue obtained from these companies will appear next year, being able to achieve profit During the period the last few years.
adding that the strategic body drawn by the program had been signed with the U.S. Treasury Department resulted in the establishment of unit senior taxable income in order to enter the giant corporations of the country such as a company's oil and mobile phones, as well as the establishment of unit self-esteem in the body that adopts the style Tkadiralarabah companies themselves under control, in addition to the establishment of training courses for cadres of the body, including the development of financial management and auditing the financial statements of companies that reap taxes in collaboration with the World Bank and the Treasury Department.
Abdullah called on government agencies contracting with the oil companies need to presence of representatives of the Authority during the signing of contracts with the aim of interpretation Terms tax, the fact that these companies have experienced problems in clarifying those items, indicating that the body has 55 branches in all the provinces, as well as 16 units at border crossing points, as well as five units in traffic circles general, a reminder that the tax is one of the tools of fiscal policy
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