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[size=36]The Minister of Finance talks about an Iraqi law, a copy of the British, and reveals the percentages of taxes collected[/size]
political| 12:16 - 14/08/2021
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Baghdad - Mawazine News
, Minister of Finance, Ali Abdul Amir Allawi, spoke on Saturday, an Iraqi law, a copy of the British one, revealing the percentages obtained from taxes.
Allawi said, during a seminar held at the ministry's headquarters to discuss the application of the tax law, that "a draft of a new tax law that is commensurate with the Iraqi situation must be prepared," noting that "the current Iraqi tax law is a copy of the British tax law issued in 1922, and a new draft law must be prepared. It is presented to the Council of Ministers in proportion to the Iraqi society."
Allawi pointed out that "the percentage of taxes collected is 1% of the state's national product during the past year," stressing that "this percentage is small."
He explained that "the real estate tax rate imposed is 9% of the estimated property price. The tax on transfer of ownership is progressive, ranging from 3 to 6% of the property value, and the income tax rate is 15% of the net profit."
He added that "there is a part of foreign companies that practice tax evasion and the necessary measures will be taken against them." Ended 29/A43
, Minister of Finance, Ali Abdul Amir Allawi, spoke on Saturday, an Iraqi law, a copy of the British one, revealing the percentages obtained from taxes.
Allawi said, during a seminar held at the ministry's headquarters to discuss the application of the tax law, that "a draft of a new tax law that is commensurate with the Iraqi situation must be prepared," noting that "the current Iraqi tax law is a copy of the British tax law issued in 1922, and a new draft law must be prepared. It is presented to the Council of Ministers in proportion to the Iraqi society."
Allawi pointed out that "the percentage of taxes collected is 1% of the state's national product during the past year," stressing that "this percentage is small."
He explained that "the real estate tax rate imposed is 9% of the estimated property price. The tax on transfer of ownership is progressive, ranging from 3 to 6% of the property value, and the income tax rate is 15% of the net profit."
He added that "there is a part of foreign companies that practice tax evasion and the necessary measures will be taken against them." Ended 29/A43
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