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Iraq's sixth-Arab countries least an imposition of taxes
News Source: Ali Salman Section: Page economic June 6, 2014
Iraq was ranked sixth on the list of Arab countries that impose a minimum income tax on companies that are associated with employment contracts or working in the field of investment on its territory.
The international report said that the tax rate in the UAE is the highest in the world, while Sudan is the fourth highest state in terms of corporate tax, and comes Morocco is ranked 12, and Tunisia and Egypt ranked 21, Yemen and Saudi Arabia, Libya ranked 27, and Algeria ranked 28, "explaining that "Qatar has the second lowest tax rate on companies globally, followed by Oman in third place, and Jordan in fifth place, with all of Iraq, Lebanon and Kuwait in sixth place."
Showed a draft federal budget law for 2014 that total revenue for 2013 amounted to 120 trillion dinars (100 billion dollars), while expected to reach 143 trillion this year. The oil revenues exceeded last year's 111 trillion dinars, while exceeding expectations for this year's 134 trillion, and thus the contribution of non-oil revenues in GDP last year and 8.2 trillion this year, nine trillion. A source in the Ministry of Finance, the concerned party organized labor and tax audited, that (8 trillion dinars, ie, non-oil revenue, does not include the tax sector only, but all the resources of the country's non-oil industry, agriculture, trade and services, etc.).
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News Source: Ali Salman Section: Page economic June 6, 2014
Iraq was ranked sixth on the list of Arab countries that impose a minimum income tax on companies that are associated with employment contracts or working in the field of investment on its territory.
The international report said that the tax rate in the UAE is the highest in the world, while Sudan is the fourth highest state in terms of corporate tax, and comes Morocco is ranked 12, and Tunisia and Egypt ranked 21, Yemen and Saudi Arabia, Libya ranked 27, and Algeria ranked 28, "explaining that "Qatar has the second lowest tax rate on companies globally, followed by Oman in third place, and Jordan in fifth place, with all of Iraq, Lebanon and Kuwait in sixth place."
Showed a draft federal budget law for 2014 that total revenue for 2013 amounted to 120 trillion dinars (100 billion dollars), while expected to reach 143 trillion this year. The oil revenues exceeded last year's 111 trillion dinars, while exceeding expectations for this year's 134 trillion, and thus the contribution of non-oil revenues in GDP last year and 8.2 trillion this year, nine trillion. A source in the Ministry of Finance, the concerned party organized labor and tax audited, that (8 trillion dinars, ie, non-oil revenue, does not include the tax sector only, but all the resources of the country's non-oil industry, agriculture, trade and services, etc.).
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