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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Finance unveils new study on employee payroll taxes

    Rocky
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    • Post n°1

    Finance - Finance unveils new study on employee payroll taxes Empty Finance unveils new study on employee payroll taxes

    Post by Rocky Mon 04 Mar 2019, 2:29 am

    Finance unveils new study on employee payroll taxes


    Monday 4 March


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    General Administration of Taxation of the Ministry of Finance, on Monday, for the preparation of a new study concerning taxes the employees ' salaries, announcing the continuation of its plan to reduce the tax for people with limited incomes revealed. 

    "The study of the salary tax is based on the formation of a percentage of the salary so that the tax on the higher salaries more than the tax on the minimum salaries in the state," the official newspaper "Sabah" quoted the head of the General Authority for Taxation, Abbas Ali.

    She added that "the reduction of the tax sought by the Commission to apply to limited income does not include employees, because this segment is supposed to impose a tax on the total salary and not on the nominal as is the case," noting that " Up to eight years are not taxable, and the maximum amount is 15 percent of the nominal salary. " 

    Ali pointed out that "the Commission continues to implement its plan set up until 2023, which provides for the advancement of the reality of tax work and the achievement of revenues to the financial budget in additional amounts according to methodology and scientific work in line with developments."

    The Commission has recently submitted a study to the Minister of Finance in this regard, and this study was submitted to the Prime Minister for decision, "noting that" the Authority seeks to reduce taxes For this segment to alleviate them on the one hand, and diversion of effort and investment of staff in the Commission to obtain taxes from oil companies and telecommunications and put them to the sales tax on hotels and restaurants on the other. 

    She pointed out that "the estimates of tax amounts according to the federal budget for the current year 2019, estimated at four trillion dinars, but the plan of the Commission requires the collection of tax amounts exceeding five trillions dinars for the current year." 

    The government proposed imposing more taxes on the budget bill of 2019 to increase non-oil revenues to help reduce the fiscal deficit.



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    Rocky
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    • Post n°2

    Finance - Finance unveils new study on employee payroll taxes Empty Finance provides a study to reduce taxes obtained from low-income people

    Post by Rocky Mon 04 Mar 2019, 2:56 am

    [size=36]Finance provides a study to reduce taxes obtained from low-income people[/size]

    10:43 - 04/03/2019

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    BAGHDAD - 
    The Ministry of Finance has raised a study to the Prime Minister to reduce the volume of taxes received from low-income people of professions and free business, while confirming the unification of tax work with the Kurdistan region. 
    The head of the General Authority for Taxes in the Ministry of successful Abbas Ali, in a statement quoted by the newspaper "Sabah" official and informed / Mawazin News / it, "The Commission continues to implement its plan set up to the year 2023, which provides for the advancement of the work of tax and the achievement of revenues to the financial budget additional amounts according to Systematic and scientific work in line with developments. " 
    "The plan provides for a reduction in the tax for those with limited incomes, especially those covered under the paragraph (income of professions and free business)," the statement said.
    Ali pointed out that "the tax exemption is not only by law," asserting the efforts of the Authority to reduce taxes for this segment to mitigate them on one side, and the other side so as not to occupy this segment the General Authority for Taxes because the preparation of large, which requires the provision of significant services by the Department and the weak revenue and The Authority seeks to transfer the effort and investment of the staff of the Commission to collect taxes from oil companies and telecommunications and to put them in the sales tax on hotels and restaurants.
    She stressed that "reducing the size of the tax does not include employees, because this segment is supposed to impose a tax on the total salary and not on the nominal as is currently happening," noting that "However, the staff of the lowest grades up to eight are not taxable and the upper limit is 15 Percent of the nominal salary, "revealing" the preparation of a study of salary tax based on the formation of a percentage of the salary so that the tax on the higher salaries more than the tax on the minimum salaries in the state. "
    The head of the Tax Authority, the unification of tax work with the Kurdistan region, is clear about the formation of a joint committee in which representatives of the region and the General Authority for Federal Taxes raised a document confirming the unification of work, and actually was through the border crossing there to open a unit to calculate the tax in the region, The employee is not in the same place as the other sites, so it became one deal and the same tax rate and raised the book to the Minister and when the ratification is raised to the Secretariat of the work in accordance with the record and tax revenues in the region to raise the statistics to be interrupted by the Department of Parallel Of the share of the region in the budget.


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