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[size=36]Adviser to the Prime Minister identifies two mechanisms for tax reform in Iraq[/size]
Economy | 08:55 - 06/14/2023
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Baghdad - Mawazine News
Today, Wednesday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the percentage of non-oil revenues from the gross product reaches 5 percent, and while specifying the percentage of activity of individuals in the private sector related to public finances, he identified two mechanisms for conducting tax reform.
Saleh said: "The Iraqi financial sector needs today to update the maps of non-oil revenues, especially from revenue vessels belonging to taxpayers who have completely neglected collecting from them, without at the same time burdening citizens with limited or low incomes."
He added, "The government support equation in the general budget today exceeds 13 percent of Iraq's gross domestic product, which is guaranteed by government spending from oil revenues mostly, and it touches the needs of the poor and the rich on an equal footing without discrimination. It requires a very fair and comprehensive non-oil revenue equation."
He continued, "The proportion of non-oil revenues (which is still very low and is estimated at 4-5 percent of the GDP."
Regarding individual funds and the extent of their contribution to market activity, Saleh explained that "there are what are known as voluntary vessels, which are called vessels ( gray color) which is evading from paying its financial obligations regarding the state’s tasks and tax requirements, and it is the activity of mysterious gray-colored individuals, which constitutes 60-65 percent of the total activity of the private sector or the market sector in Iraq today. collection in public finances.
He stated, "The problems of the rentier economy in our country have generated a culture of ignoring the few or meager revenues collected, while the world's public finances consist of the accumulation of scattered financial grains of sand, which are collected from few but widespread and numerous tax and revenue vessels, and at the same time achieve goals." public budgets in their countries.
And he indicated that "tax reform has also become important and inherent in providing financial discipline in Iraq and in two directions: the first: the adoption of soft flat taxes on income segments of various denominations according to easy collection methods that encourage immediate payment and enhance tax revenues in a transparent manner, and the second: the use of electronic payment and collection methods for accounting taxpayer in an easy way, provided that each taxpayer carries one tax number.
And he stressed, “This requires cooperation with international financial institutions to choose and apply the simplest technical means and the most capable of reaching the taxable bases, which makes tax or other revenue revenues, such as fees and service wages, and others, relative to the gross domestic product, equal at least to the support rate in the federal budget.” , as a financial goal that should be pursued within the government program," pointing out, "taxes and fees are broad and comprehensive and imposed fairly without burdens on taxpayers, and encourage them voluntarily to contribute nationally to supporting public finances in our country."
Saleh said: "The Iraqi financial sector needs today to update the maps of non-oil revenues, especially from revenue vessels belonging to taxpayers who have completely neglected collecting from them, without at the same time burdening citizens with limited or low incomes."
He added, "The government support equation in the general budget today exceeds 13 percent of Iraq's gross domestic product, which is guaranteed by government spending from oil revenues mostly, and it touches the needs of the poor and the rich on an equal footing without discrimination. It requires a very fair and comprehensive non-oil revenue equation."
He continued, "The proportion of non-oil revenues (which is still very low and is estimated at 4-5 percent of the GDP."
Regarding individual funds and the extent of their contribution to market activity, Saleh explained that "there are what are known as voluntary vessels, which are called vessels ( gray color) which is evading from paying its financial obligations regarding the state’s tasks and tax requirements, and it is the activity of mysterious gray-colored individuals, which constitutes 60-65 percent of the total activity of the private sector or the market sector in Iraq today. collection in public finances.
He stated, "The problems of the rentier economy in our country have generated a culture of ignoring the few or meager revenues collected, while the world's public finances consist of the accumulation of scattered financial grains of sand, which are collected from few but widespread and numerous tax and revenue vessels, and at the same time achieve goals." public budgets in their countries.
And he indicated that "tax reform has also become important and inherent in providing financial discipline in Iraq and in two directions: the first: the adoption of soft flat taxes on income segments of various denominations according to easy collection methods that encourage immediate payment and enhance tax revenues in a transparent manner, and the second: the use of electronic payment and collection methods for accounting taxpayer in an easy way, provided that each taxpayer carries one tax number.
And he stressed, “This requires cooperation with international financial institutions to choose and apply the simplest technical means and the most capable of reaching the taxable bases, which makes tax or other revenue revenues, such as fees and service wages, and others, relative to the gross domestic product, equal at least to the support rate in the federal budget.” , as a financial goal that should be pursued within the government program," pointing out, "taxes and fees are broad and comprehensive and imposed fairly without burdens on taxpayers, and encourage them voluntarily to contribute nationally to supporting public finances in our country."
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