Double taxation

Double taxation


Author: ياسر

المطولي 06/8/2017 12:00 AM

The problem of double taxation between the center and the region was complex and had negative effects on the Iraqi economy through the impact of various economic sectors of the private sector and its repercussions on the market and prices as well as losses suffered by those sectors and contributed to the disruption of private banking activities and shrinking.
Now it has been agreed to solve this problem through the painstaking efforts exerted by the Association of Private Banks through the collection of tax officials in the region and the center at the table of important talks and many times.
These meetings resulted in measures reflecting the parties' understanding of the problem and the serious work to resolve it through reaching important and correct decisions that will be submitted to the responsible authorities in the Center and the region.
This great achievement achieved to prevent double taxation, but includes large economic sectors, contracting companies, travel, tourism and many others. This means that a radical solution to the problematic macroeconomic issue, not just the private banking sector
.
In my estimation, this great achievement, if not yet approved, is part of a remarkable step in the stages of tax reform as part of the package of economic reforms launched by the government and will serve as the solid foundation for reforming the tax system as a first and important step.
Then I see in the case of the adoption and implementation of the recommendations on double taxation between the Center and the region to reflect the good faith that in its role will be the right basis to resolve all outstanding economic problems between the parties with the same mechanism that was followed to solve the problem of double taxation.
It is useful to note the importance of taxes as an effective means in the field of redistribution of income and to achieve justice in the distribution and then it is any source tax basis in the diversification of budget resources and this does not mean the use of the wrong effects will be negative on the reality of the market and consumer income in the case of a double stay for The solution of this problem will have the effect of correcting the course of
tax targets .
We can turn to successful regional experiences that have managed to achieve a balanced economy through a tax system that tightly supported the productive sectors and the public budget and achieved great benefit in that country, and can promote the Iraqi economy if the benefit of these
systems.

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