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Higher Committee: Weak classes will not be included in the new income tax law
First 09/22/2024
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Last Thursday witnessed a national event with a prominent title: “Achieving Justice” in Imposing Income Taxes According to International Standards. The Prime Minister’s Office received a draft of the new income tax law prepared by the Higher Committee for Tax Reform and the General Tax Authority with the advice and supervision of experts from the German Agency for International Cooperation (GIZ). This draft represents the first strategic change in the world of taxes in Iraq after 6 decades of the 1959 law.
The head of the Higher Committee for Tax Reform, Dr. Abdul Hussein Al-Anbaki, told Al-Sabah: “The draft of the new income tax law represents a breakthrough in the field of tax legislation. Iraq still relies until now on Income Tax Law 112 of 1982, which is based primarily on the 1959 law, i.e. for more than sixty years.”
He pointed out that "this law is characterized by three main points, including that it is consistent in terms of calculating taxes with the international standards adopted in calculating taxes and the issue of double taxation between countries, and this matter was taken into consideration, and the other point is that the law achieves tax justice, as the scope of allowances for raising the minimum limit was expanded," indicating that "many weak groups will not be subject to tax, and progressive taxes will be imposed on those with high incomes higher than those with low incomes to achieve tax justice."
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