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3.7 billion dollars of tax revenue from companies in Iraq
06/05/2014 08:57
Informed sources said that the Iraq tax revenues did not exceed 3.7 billion dollars in 2013, stressing that the estimates of the current year will not be much different, have shown sources close to the Iraqi government, they do not affect the annual federal budget. A report prepared by an international firm KPMG specializing in auditing, tax and advisory services, that Iraq is ranked sixth on the list of Arab countries that impose a minimum tax on corporate income.
The report pointed out that the tax rate in the UAE is one of the highest in the world, while Sudan is the fourth highest state in terms of corporate tax, and comes Morocco is ranked 12, and Tunisia and Egypt ranked 21, Yemen and Saudi Arabia, Libya ranked 27, and Algeria ranked 28.
In contrast, Qatar has the second lowest tax rate on companies globally, followed by Oman in third place, and Jordan in fifth place, with all of Iraq, Lebanon and Kuwait in sixth place, while Bahrain is the only Arab country that does not impose income tax on corporations. Showed a draft federal budget law for 2014 that total revenue for 2013 amounted to 120 trillion dinars (100 billion dollars), while expected to reach 143 trillion this year.
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