Specialists: The existence of a balanced tax system that achieves economic and social justice

by **Rocky** Sun 31 Dec 2023, 4:24 am

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Specialists: The existence of a balanced tax system that achieves economic and social justice

by Rocky Sun 31 Dec 2023, 4:24 am

Specialists: The existence of a balanced tax system that achieves economic and social justice

Economical 12/31/2023
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Baghdad: the mainstay of the emirate
The tax system represents an important economic foundation that will achieve the principle of justice and equality among people, in addition to its role in supporting financial budgets, distributing income, and reducing corruption operations, which has called on many specialists in economic affairs to stress the importance of carrying out broad tax reforms that are compatible with... The economic reality in the country, indicating that taxes do not currently play a major role in maximizing non-oil revenues or in redistributing income.

Iraq seeks to make a broad shift in tax work, by implementing a number of reforms that were revealed during the tax reform conference held recently in Baghdad, in which the Prime Minister, Muhammad Shiaa Al-Sudani, confirmed that “economic reform, which was identified as a basic priority in the government program, It was not a slogan, but rather an interim goal that came from a realistic reading and inevitable result of the problems and challenges facing Iraqi society, most of which have economic roots,” explaining that “tax reform represents an important message to local and foreign investors, companies and international organizations, regarding the government’s seriousness in restoring the business environment, and reforming Regulations and legislation, and rehabilitating institutional building, to be more attractive to investment, production and operation.”
Al-Sudani pointed out that “tax reform was present in all the meetings with businessmen and local and foreign investors, and that implementing the reform requires persistence, determination, diagnosing defects and making bold decisions,” indicating that “despite the difficulties that appear at the medium and long-term level, we will reach A stage in which the producer, consumer, and investor feel a state of acceptance and satisfaction, after justice has been achieved. We hope that the conference’s recommendations will support legislation and infrastructure, and adopt a controlled and automated system that will eliminate extortion.”
During the conference, the Prime Minister revealed that “data from the Ministry of Planning indicate imports worth $42 billion, including machinery, goods, and products, but data from the Central Bureau of Statistics show imports worth $16 billion, which means that $26 billion was not subject to customs and tax duties.” ».
The conference came out with a number of recommendations at the time, the most prominent of which is “striving to encourage local companies to pay all the taxes owed related to these companies by extinguishing the fines and interest accrued by them, provided that they pay the original tax due, and submitting a proposal to extinguish 50% of the fines and interest accrued by foreign companies, especially companies.” Oil Company, provided that the original taxes due are paid as an important basic step, to follow the policy of zeroing out problems, as well as seeking to solve the problem of similarity of names, which is an existing and previous problem, by canceling all the binary names that were previously provided to the General Tax Authority, and returning them to the official authorities to complete them and add The full name, mother’s or wife’s name, or date of birth.
Academic and economic researcher, Dr. Abdul Karim Al-Issawi, pointed out during his speech to “Al-Sabah” that “the Iraqi economy is characterized by completely absolute rentierism, as oil revenues dominate 96 percent of the state’s total revenues. In contrast, non-oil revenues represent the smallest portion of total revenues. It depends on taxes and fees, and therefore they are secondary and at low rates.”
Al-Issawi believes that “the dominance of oil revenues over the general budget is primarily the result of economic policies and what they included in opening the door to importing goods and services from abroad and canceling customs duties, in addition to the pluralism of the tax system in Iraq in terms of direct and indirect taxes, which is characterized by stagnation. “There is also difficulty in determining the tax base, which leads to an increase in evasion.”
Al-Issawi continued that paying taxes is a national responsibility that the taxpayer must undertake when he is subject to its controls, and the national duty requires the citizen to pay tax on the nature of the work he carries out through annual disclosure and accounting, and when a country has a balanced and comprehensive tax system, social and economic justice is achieved. By maximizing the marginal utility of income.
For his part, the specialist in economic affairs, Dr. Adnan Bahia, said in an interview with “Al-Sabah”: “Taxes are an important source of revenues for many countries in the world, especially countries that adopt the principle of market economy or capitalist systems, as tax revenue is the main financier of services and construction.” Infrastructure and entertainment for citizens,” indicating that “the basic principle of taxes is that they are based on payment for the service that the citizen receives in exchange for the taxes he pays, so the government must be transparent in the taxes it collects and the tangible services it provides on the ground, such as Infrastructure and municipal services, the construction of streets and parks, water and electricity, or intangible services such as encouraging the national product or increasing and diversifying job opportunities, economic diversification, etc., in addition to taxes being an important source of development.
Bahia explained, “Taxes are a double-edged system. If they exceed their usual limit, they may lead to a contraction in the market and the economy later. However, if they are abolished or their imposition fails, the economy can also be severely harmed due to the dumping of goods in the markets due to the lack of taxes that balance the price of goods.” The local product and the price of the foreign product.
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Specialists: The existence of a balanced tax system that achieves economic and social justice

Specialists: The existence of a balanced tax system that achieves economic and social justice

Specialists: The existence of a balanced tax system that achieves economic and social justice

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