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WB: Iraqi progress indicators of the business environment and relatively low taxes

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WB: Iraqi progress indicators of the business environment and relatively low taxes

 Baghdad/zahraa Al Jassim

The World Bank's annual report showed annual Outlook on the business environment in Iraq next year, progress in most sectors of business environment indicators, although ranking a little Iraq in the field of taxation.

Financial adviser to the Prime Minister believes that the change made by the World Bank on valuation methodology and mechanisms in the tax sector, which offered Iraq most Arabic countries to this retreat.

Iraq arrangement increased ease of doing business, according to the report ranked 168 compared with 165 place that's filled with last year's report.

The World Bank said in its annual report published recently and got (range), a copy of it, that Iraq could in 2016 – 2017 implement fundamental changes in domestic regulatory framework in two ranges, namely starting a business, getting credit, noting that starting a business is more Ease in Iraq by combining multiple registration procedures and shorten the time required for the registration of companies, business owners must no longer register their companies independently to the General Commission for taxes, reduced the time required to record companies, because of the increased resources available in Registration services and improve the electronic registration system.

The report added that Iraq worked to improve access to credit information by launching credit register run by the Iraqi Central Bank, starting from the first of January 2017, and has included this register 234,967 clients and 4,877 commercially borrowed included information on the default history during The past five years.

Meanwhile, the statement quoted Regional Director for the bright circle in WB Saroj Kumar JHA, the doing business data reveal that fragile economies as Iraq continues its reform efforts and deal with crises as opportunities to improve business systems, adding:

this is as part of a program to see 2030, where Iraqi Government launched fundamental reform agenda based on general government framework programme (2014 – 2018) which enshrines the primacy of institutional and economic reforms, development of the private sector,

the World Bank is also committed to supporting the efforts of the Iraqi Government in implementing priority reforms That will enhance the business environment and achieve growth and better opportunities for all Iraqis."

Financial adviser to the Prime Minister Dr Mohamed Saleh appearance, said in an interview for (range) on the World Bank report, this report entitled facilitating business environment in Iraq, confirms that despite a reduction in taxation, it showed an increase in most other sectors, indicators The World Bank has changed the methodology of paragraph taxes which Iraq most Arabic countries to regress in their order,

but on the other hand said the report shows that there is substantial improvement in business environment indicators in Iraq for most of the sectors or activities supported by the World Bank for the year 2018 For Iraq, there are promising opportunities for foreign investment and construction sectors to work in an economy stability and peace in Iraq.

He said: Unfortunately, there is a bank on the valuation methodology and mechanisms in the tax sector exclusively, thereby pushing down Iraq site for an average year in rank between countries compared to what it is in the previous estimate, but on the other hand, there is a significant improvement in the areas of registration of companies In addition to other indicators.

Either an economist, Hassan Haddad, Phiri has published a study on the World Bank report, Iraqi Prime Minister Haider Abadi, a few months after the start of his mandate, his vision for reforms before world leaders at the World Economic Forum in Davos, by the summer of 2015, Political reforms have captured all the headlines, and with the World Bank report on doing business in 2018, which measures regulations that enhance business activity and those that tie, "classified" ease of doing business in 190 countries, is no different from "doing reports "The keep him on Iraq, but a closer look at his show a different story,

for example, that among the ten indicators make up the overall result of the economy, we see improvement in Iraq on six indicators starting in 2017, in "starting a business", the first indicator of the report, which looked at a number of procedures and time Cost and minimum capital required payment to start a limited liability company, which has become more attractive to investors at a time when the war concluded ISIS and sees the world that Iraq is a serious reform efforts, and its effect on the Earth.

Allie goes on to say, when we consider that Iraq competes with 189 other countries looking to improve its image and compete for international investment, we find here also a commendable improvement in view of the overwhelming Iraqi bureaucracy that can make getting the most basic government services is Difficult,

and finally, we must not forget that these efforts have been made to that Iraq fought and defeated the largest terrorist organization in the world.

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