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By calculation... How much does Iraq earn from foreign company tax revenues and what is their benefit to the treasury? - urgent
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Baghdad today - Baghdad
Today, Wednesday (November 15, 2023), the Parliamentary Finance Committee reviewed the percentage of taxes that Iraq collects from foreign companies operating in it .
Committee member Jamal Kujar told “Baghdad Today” that “Iraq imposes taxes on foreign companies operating in it, especially there is a 35% tax on the income generated in Iraq from contracts concluded with foreign oil companies,” indicating that “ There is a tax of 15% on the profits made by companies. The rates differ depending on the nature of the work of some companies.”
Cougar stated, “Collecting taxes from foreign companies operating in Iraq generates annual revenues for the state treasury, but these imports do not cover any significant amount of the high expenditures in the budget, and the supervisory authorities from the Financial Supervision Bureau and others must follow up on the file of collecting taxes from foreign companies.” ".
Many foreign and local companies operate in Iraq, and in contrast to all companies, especially oil companies, information is released from time to time on mobile phone and Internet companies in Iraq, as they do not pay the taxes imposed on them.
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