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The Finance Committee of the Iraqi Parliament on Sunday called for an amendment to Iraq's tax system in line with developments in the country.
"The Iraqi tax system is not in line with the economic, social and political developments in the country," committee rapporteur Ahmed al-Saffar told Shafaq News.
He noted that the majority of the country's tax regulation laws are old and date back to the last century, such as income tax law No. 113 of 1982, calling for a review of those laws.
It was not a single law, but the country needed to legislate new tax laws that were consistent with the economic, financial, administrative and political situation and reflected fiscal and economic policy.
Al-Saffar stressed the need for tax-prudent laws to be flexible and change as the country's economic conditions change, whether in the case of prosperity, recovery or vice versa.
"The tax system as a whole must be seen, and all taxes need to be changed and adjusted to the country's financial and economic situation," he said.
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"The Iraqi tax system is not in line with the economic, social and political developments in the country," committee rapporteur Ahmed al-Saffar told Shafaq News.
He noted that the majority of the country's tax regulation laws are old and date back to the last century, such as income tax law No. 113 of 1982, calling for a review of those laws.
It was not a single law, but the country needed to legislate new tax laws that were consistent with the economic, financial, administrative and political situation and reflected fiscal and economic policy.
Al-Saffar stressed the need for tax-prudent laws to be flexible and change as the country's economic conditions change, whether in the case of prosperity, recovery or vice versa.
"The tax system as a whole must be seen, and all taxes need to be changed and adjusted to the country's financial and economic situation," he said.
[You must be registered and logged in to see this link.]
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