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Al-Sudani: Tax reform represents an important message to local and foreign investors about the government’s seriousness in restoring the business environment / Expanded
Wednesday 06, December 2023 12:50 | Political Number of readings: 131
Baghdad ( NINA) - Under the patronage of Prime Minister Muhammad Shiaa Al-Sudani, the conference on reforming the tax system in Iraq began this Wednesday morning.
In his speech, Al-Sudani welcomed those responsible for preparing this important and qualitative conference devoted to tax reform.
He also praised the research papers presented by the relevant officials, businessmen and international organizations, stressing that economic reform, which was identified as a basic priority in the government programme, was not a slogan, but rather a slogan. An interim goal that came from a realistic reading and inevitable result of the problems and challenges facing Iraqi society, most of which have economic roots.
Al-Sudani explained that tax reform represents an important message to local and foreign investors, companies and international organizations, regarding the government’s seriousness in restoring the business environment, reforming regulations and legislation, and rehabilitating institutional building. To be more attractive for investment, production and operation. He stressed that
tax reform was present in all meetings with businessmen and local and foreign investors, noting that
implementing the reform requires persistence, determination, diagnosing the defect, and making bold decisions. He added that
despite the difficulties that appear on the medium and long-term level, we will reach a stage where the producer, consumer and investor will feel a state of acceptance and satisfaction, after justice has been achieved. He continued:
We hope that the conference’s recommendations will support legislation and infrastructure, and adopt a controlled and automated system that will eliminate extortion. He stressed that
the phenomenon of extortion represents one of the factors that deter taxpayers from fulfilling their tax obligations, pointing out that the concept of tax needs work, awareness and education. He added that
tax revenues should be reflected in service projects that improve the living conditions of citizens, and make taxpayers feel that they are contributors to development, stressing that
a large part of the problems of banking and financial reforms is represented by the evasion and fraud of some merchants and businessmen from the tax system. He explained that
businessmen go to the illegal market for foreign currency, and leave the official price and the electronic platform in order to avoid the tax, pointing out that
some of the reasons for tax evasion are related to the origin of the tax system and its legislation, and some are related to the tax culture and the spread of evasion.
He announced that the total imports, according to data from the Ministry of Planning, indicate imports worth 42 billion dollars, of machinery, goods and products. Data from the Central Bureau of Statistics also indicate imports worth 16 billion dollars, which means that 26 billion dollars were not subject to customs duties and taxes.
He stressed that tax evasion has disastrous effects on industry and trade, and hinders development projects. Al-Sudani explained:
We have taken practical steps in banking and financial reform, land administration, electronic payment systems, and support for industrial cities, which is an integrated package that requires reform of the tax system. He concluded:
We hope that the House of Representatives will prioritize legislation related to the tax sector based on the outcomes of this conference. /End 9
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Wednesday 06, December 2023 12:50 | Political Number of readings: 131
Baghdad ( NINA) - Under the patronage of Prime Minister Muhammad Shiaa Al-Sudani, the conference on reforming the tax system in Iraq began this Wednesday morning.
In his speech, Al-Sudani welcomed those responsible for preparing this important and qualitative conference devoted to tax reform.
He also praised the research papers presented by the relevant officials, businessmen and international organizations, stressing that economic reform, which was identified as a basic priority in the government programme, was not a slogan, but rather a slogan. An interim goal that came from a realistic reading and inevitable result of the problems and challenges facing Iraqi society, most of which have economic roots.
Al-Sudani explained that tax reform represents an important message to local and foreign investors, companies and international organizations, regarding the government’s seriousness in restoring the business environment, reforming regulations and legislation, and rehabilitating institutional building. To be more attractive for investment, production and operation. He stressed that
tax reform was present in all meetings with businessmen and local and foreign investors, noting that
implementing the reform requires persistence, determination, diagnosing the defect, and making bold decisions. He added that
despite the difficulties that appear on the medium and long-term level, we will reach a stage where the producer, consumer and investor will feel a state of acceptance and satisfaction, after justice has been achieved. He continued:
We hope that the conference’s recommendations will support legislation and infrastructure, and adopt a controlled and automated system that will eliminate extortion. He stressed that
the phenomenon of extortion represents one of the factors that deter taxpayers from fulfilling their tax obligations, pointing out that the concept of tax needs work, awareness and education. He added that
tax revenues should be reflected in service projects that improve the living conditions of citizens, and make taxpayers feel that they are contributors to development, stressing that
a large part of the problems of banking and financial reforms is represented by the evasion and fraud of some merchants and businessmen from the tax system. He explained that
businessmen go to the illegal market for foreign currency, and leave the official price and the electronic platform in order to avoid the tax, pointing out that
some of the reasons for tax evasion are related to the origin of the tax system and its legislation, and some are related to the tax culture and the spread of evasion.
He announced that the total imports, according to data from the Ministry of Planning, indicate imports worth 42 billion dollars, of machinery, goods and products. Data from the Central Bureau of Statistics also indicate imports worth 16 billion dollars, which means that 26 billion dollars were not subject to customs duties and taxes.
He stressed that tax evasion has disastrous effects on industry and trade, and hinders development projects. Al-Sudani explained:
We have taken practical steps in banking and financial reform, land administration, electronic payment systems, and support for industrial cities, which is an integrated package that requires reform of the tax system. He concluded:
We hope that the House of Representatives will prioritize legislation related to the tax sector based on the outcomes of this conference. /End 9
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