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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

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    After an agreement to send 50% to Baghdad, the Kurdistan government cancels taxes and reduces others

    Rocky
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    After an agreement to send 50% to Baghdad, the Kurdistan government cancels taxes and reduces others Empty After an agreement to send 50% to Baghdad, the Kurdistan government cancels taxes and reduces others

    Post by Rocky Fri 16 Aug 2024, 4:49 am

    After an agreement to send 50% to Baghdad, the Kurdistan government cancels taxes and reduces others for certain groups

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    Baghdad Today - Baghdad
    An informed source revealed, today, Thursday, August 15, 2024, that the Kurdistan Regional Government has cancelled taxes on a number of categories, and reduced them on other categories.
    The source told Baghdad Today, "After Baghdad and Erbil agreed to send 50% of non-oil revenues to the federal government, which means sending half of the revenues from taxes and customs, the regional government decided to cancel taxes on a number of economic sectors, including bakeries, baklava ovens, popular restaurants, and others."
    He added, "When the entire amount went to the regional government, it imposed high taxes, but after the agreement to send 50% to Baghdad, it decided to reduce and cancel it, because the money went to the federal government."
    On July 18, 2024, the Ministry of Finance and Economy of the Kurdistan Regional Government announced that it had reached an agreement that included several points regarding taxes with the General Tax Authority of the federal government.
    The ministry said in a statement that the most important points of the agreement with Baghdad are:
    1- The federal government’s recognition of the tax exemption for the Kurdistan Region, after this matter had been ignored in the past.
    2- Addressing the problem of the Kurdistan Region factories, which were previously required to pay taxes under the pretext of marketing their products to the central and southern regions of Iraq. As of now, factories operating in Kurdistan must pay their income taxes in the region.
    3- Addressing the problem of supplying fuel to Kurdistan Region factories at subsidized prices, after the supply of fuel to these factories had been stopped for some time, under the pretext of not paying taxes to the federal government.
    4- Agreeing to unify tax collection procedures and measures by adopting a joint mechanism.
    5- Adopting the main headquarters of banks as the basis for collecting taxes.
    6- The two sides agreed to the necessary coordination and take appropriate measures to prevent tax evasion.
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