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Saleh: 70% of the market and the private sector are {gray} and evade paying taxes
- Time: 2024/09/05 09:15:01
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{Economic: Al Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the existence of a “grey market” that accounts for nearly 70% of the market or private sector activity, “indicating that this percentage evades paying legal taxes.”
Saleh said in a press statement, "Taxes constitute in total about (25) percent of the gross domestic product in developed countries, while in Iraq they do not exceed (4) percent due to tax evasion, as the gray market, which is not known to the tax authorities, constitutes a percentage close to (70) percent of the market or private sector activity."
He added, "While negative taxes, which are cash income subsidies paid to the poor class, constitute (5) percent of the annual gross domestic product, and this constitutes the tax defect that compensates for the difference between the type of tax with the revenues of oil rents."
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{Economic: Al Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the existence of a “grey market” that accounts for nearly 70% of the market or private sector activity, “indicating that this percentage evades paying legal taxes.”
Saleh said in a press statement, "Taxes constitute in total about (25) percent of the gross domestic product in developed countries, while in Iraq they do not exceed (4) percent due to tax evasion, as the gray market, which is not known to the tax authorities, constitutes a percentage close to (70) percent of the market or private sector activity."
He added, "While negative taxes, which are cash income subsidies paid to the poor class, constitute (5) percent of the annual gross domestic product, and this constitutes the tax defect that compensates for the difference between the type of tax with the revenues of oil rents."
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