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[size=36]The Supreme Committee for Tax Reform reveals details of the draft of the new income tax law[/size]
Local | 02:10 - 09/19/2024
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Mawazine News - Baghdad
The Supreme Committee for Tax Reform announced, on Thursday, the details of the new draft tax law, indicating that it includes three main points.
The head of the Supreme Committee for Tax Reform, Abdul Hussein Al-Anbaky, said: "The draft of the new law contains important points, including achieving tax justice and many allowances for those with limited incomes and expanding it to segments that were not taken into consideration from those with high incomes."
He explained that "the draft of the new law is consistent with international standards and does not make the Iraqi tax system isolated from what is happening in the world, stressing the adoption of international accounting standards, as it is friendly to the business environment and attractive to investors, whether in terms of tax rates or easy, flexible and transparent tax procedures."
Al-Anbaky added that "the new version of the Income Tax Law will be a major breakthrough in the field of tax legislative reform and getting rid of old financial laws."
He explained that "experts and specialists contributed to writing the draft law, which is a major achievement for the Supreme Committee for Tax Reform," extending his thanks to the German agency GIZ for the experts and specialists it provided who provided assistance in writing this draft.
The head of the Supreme Committee for Tax Reform, Abdul Hussein Al-Anbaky, said: "The draft of the new law contains important points, including achieving tax justice and many allowances for those with limited incomes and expanding it to segments that were not taken into consideration from those with high incomes."
He explained that "the draft of the new law is consistent with international standards and does not make the Iraqi tax system isolated from what is happening in the world, stressing the adoption of international accounting standards, as it is friendly to the business environment and attractive to investors, whether in terms of tax rates or easy, flexible and transparent tax procedures."
Al-Anbaky added that "the new version of the Income Tax Law will be a major breakthrough in the field of tax legislative reform and getting rid of old financial laws."
He explained that "experts and specialists contributed to writing the draft law, which is a major achievement for the Supreme Committee for Tax Reform," extending his thanks to the German agency GIZ for the experts and specialists it provided who provided assistance in writing this draft.
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