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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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    Al-Sudani stresses the importance of tax reforms in supporting the non-oil economy

    Rocky
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    Al-Sudani stresses the importance of tax reforms in supporting the non-oil economy Empty Al-Sudani stresses the importance of tax reforms in supporting the non-oil economy

    Post by Rocky Fri 23 Aug 2024, 4:44 am

    Al-Sudani stresses the importance of tax reforms in supporting the non-oil economy

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    Baghdad Today - Baghdad
    Prime Minister Mohammed Shia Al-Sudani stressed today, Thursday, August 22, 2024, the importance of tax reforms in supporting the non-oil economy.
    A statement from his office, received by Baghdad Today, stated that Al-Sudani "chaired a meeting of the Supreme Committee for Monitoring the Implementation of Tax Reform, during which a review was made of what had been accomplished in accordance with the relevant Cabinet decisions, or the steps undertaken by the Supreme Committee, and the most prominent digital indicators, including a 22% increase in tax revenues for the current year until the beginning of August, compared to the same period last year, after the government took a series of reform measures that contributed to increasing growth indicators and its sustainability."
    Al-Sudani stressed that "the economic reform adopted by the government as part of its program, understood the importance of implementing tax reform as a strategic option, within a comprehensive development vision for the non-oil economy, and for managing the state's public funds and resources," indicating that "it is a mistake to consider it an outlet that the government resorts to whenever oil prices are disturbed, or the revenues of the oil economy decline," according to the statement.
    According to the statement, the meeting discussed "what was implemented within the framework of expanding the tax base, including economic activities using the self-assessment method, and within exemptions approved by Cabinet decisions. It also discussed implementing steps to address the problems of taxpayers and the accounting of private banks." 
    The meeting presented to the Prime Minister "the efforts to prepare a new draft law for income tax in Iraq with the German Cooperation Organization (GIZ), and by adopting international standards that are friendly to the business environment and supportive of the private sector, in order to achieve tax justice, as well as the steps to prepare a new draft law for sales tax in Iraq, and to prepare a draft amendment to the real estate transfer tax law, in addition to what has been accomplished in the field of tax accounting for extractive oil companies within the licensing rounds, and to establish a mechanism for collecting income tax from their activities."
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