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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Tax reform in Iraq...an absent economic resource and many obstacles to its implementation

    Rocky
    Rocky
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    Tax reform in Iraq...an absent economic resource and many obstacles to its implementation Empty Tax reform in Iraq...an absent economic resource and many obstacles to its implementation

    Post by Rocky Mon 11 Dec 2023, 4:33 am

    POSTED ON[You must be registered and logged in to see this link.] BY [You must be registered and logged in to see this link.]

    [size=52]Tax reform in Iraq...an absent economic resource and many obstacles to its implementation[/size]

    [size=45]Prime Minister Muhammad Shiaa Al-Sudani stressed that tax reform represents an important message to foreign investors and companies, while indicating that the government is serious about restoring the business environment.[/size]
    [size=45]He added, “Despite the difficulties that appear on the medium and long-term level, we will reach a stage where the producer, consumer, and investor feel a state of acceptance and satisfaction, after achieving justice,” expressing his hope to “support the conference’s recommendations for legislation and infrastructure, and adopt a governed and automated system that will eliminate the situation.” Blackmail.”[/size]
    [size=45]development[/size]
    [size=45]Countries around the world are paying special attention to the issue of fiscal policy reforms, especially direct and indirect tax reform, based on its important role in economic development and its positive impact represented by financing the state’s general budget, but Iraq is lagging behind in this aspect, according to observers.[/size]
    [size=45]They stressed that the issue of tax reform has become one of the urgent issues for which logical and practical solutions must be found. All opinions are unanimous, not only on the necessity of tax reform and modernization of taxes, some of which have been issued for more than fifty years, with segments and rates that were appropriate to the circumstances prevailing at the time of their issuance, and the tax reform strategy must be compatible with reform strategies in the rest of the economic sectors and the stock market, And the challenges of opening up the Iraqi market to other markets.[/size]
    [size=45]Personal judgments[/size]
    [size=45]Financial affairs expert Mustafa Hantoush explains in an interview exclusively with him (Al-Mada), that “the tax law is out of action, but what exists now regarding its approval is just speculation and personal diligence, as this law has many problems, including double taxation and direct income tax,” pointing out, “The tax in the Kurdistan region has its own tax policy and is not subject to the center’s policy, because it is not competitive with Kurdistan, as their tax on most items is 5%, while in the center’s government it may reach 200% for some items.” Hantoush adds, “The tax law, as well as the state treasury, and many matters must be reconsidered, as the tax in Iraq is not commensurate with the trade process that takes place within the country.”[/size]
    [size=45]Rethink[/size]
    [size=45]Prime Minister Muhammad Shiaa Al-Sudani stressed that “the phenomenon of extortion represents one of the factors that deter those charged with fulfilling their tax obligations,” noting that “the concept of tax needs work, awareness, and education.”[/size]
    [size=45]He stressed the need for “tax revenues to be reflected in service projects that improve the living conditions of citizens, and make taxpayers feel that they are contributors to development,” explaining that “a large part of the problems of banking and financial reforms is represented by the evasion and fraud of some merchants and businessmen from the tax system.”[/size]
    [size=45]As for the economic expert, Abdul Rahman Al-Mashhadani, he stated in an interview with (Al-Mada), that “the steps that the government is taking towards achieving tax reform, if applied according to the established mechanisms, will achieve success, and the issue is not difficult, but we need automation to the basic degree, and reconsidering the law.” Taxes and other laws supporting the issue of taxes.[/size]
    [size=45]Obstruction and corruption[/size]
    [size=45]Al-Mashhadani adds, “These laws are no longer compatible with the current stage because they were enacted in the eighties of the last century, in addition to the nature of the political system that has changed, as well as its economic orientation. Therefore, if we shift towards automation as a first stage, modifying the electoral system and training cadres, we will achieve success.” “Quickly, it does not require high costs or a long time.”[/size]
    [size=45]Al-Mashhadani continues, “There are influential people who benefit from the process of obstructing tax reform, and this may be one of the final episodes from which political parties benefit, given that positions were sold, and there are shares for political blocs that bring in people who are not qualified to lead such joints, or who are corrupt or who pay money.” To obtain a specific position, he is therefore faced with the choice of either dealing in bribes or selling positions, and in any case he is the one who harms the system, so we are talking about a wide class of bribed employees, as most tax workers receive bribes, so we cannot call protection on All employees, as they work for these political parties, meaning that their leaders may be linked and the department may be directed in this or that direction.”[/size]
    [size=45]It is noteworthy that the work of the “Reforming the Tax System in Iraq” conference was launched on Wednesday, in the presence of Prime Minister Muhammad Shiaa Al-Sudani. The conference covered tax policies, legislation, governance and automation, tax administration and accounting, while the conference aims to amend tax legislation that is not friendly to the business environment. Developing tax administration and the skills of its employees to raise the level of tax performance, correcting defects in the tax work environment in a way that serves the economic development process, achieving tax justice and reducing the tax burden on taxpayers, facilitating tax procedures and adopting tax governance, and reconsidering tax and customs policies in Iraq in light of an economic market, strengthening Iraq's position in international classifications in the field of tax work, and spreading a tax culture among those charged with paying taxes by reflecting tax revenues by providing good services and creating investments that contribute to providing job opportunities that generate sustainable income.[/size]
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