A global company launches a commercial guide to deal with taxes in Iraq

A global company launches a commercial guide to deal with taxes in Iraq

Thu, 06 Jul 2017 08:17:39

A global company launches a commercial guide to deal with taxes in IraqIt launched the “Deloitte”, the largest professional services firm in the world, based in the United States, a trade guide to understand the tax situation in Iraq, noting that the Iraqi authorities have not fully implemented the self – evaluation of the tax system, and continue the process affected by a review of the tax return submitted requests.

According to the newspaper “Life” Saudi Arabia, the “Deloitte” issued a new report on the tax environment in Iraq under the title “Iraq Commercial Directory – understand the tax situation in Iraq”, to guide companies and to support its customers and interested parties in Iraq.

The report aims to highlight the main areas requiring consideration, each of the companies that are looking to invest in Iraq for the first time, and those with expertise currently operating in Iraq.

She explained the General Authority for taxes following the appointment of a new general manager has, that one of its main objectives the speed of dealing with the tax calendar operations and the collection of tax revenues optimum ways.

In this context, said the director of the tax department at the “Deloitte Middle East” in Iraq, Jane Stokes: “Iraqi authorities have not been implemented in full self – assessment tax system format, and continues to be affected by the process to review the Commission submitted requests for tax recognition.”

She said: “However, there is a perception among the Commission that taxpayers are not doing enough to actively participate in the discussion with the IRS.”

The report of the “Deloitte” companies important tax considerations for doing business in Iraq and highlights the most important factors affecting the operations of these companies , such as matters relating to laws and regulatory bodies, economic and market developments.

The guide also deals with attractive sectors for investment and rich opportunities and considerations to enter the market, as well as necessary for the establishment of companies in Iraq procedures.

Also, in charge of international tax services at Deloitte Middle East Alex partner said if that Iraq “despite the complexities in this area, continues to provide investment opportunities for foreign companies.

But in the light of the approach adopted by the General Authority for taxes, it is important for taxpayers, whether new or who have a well – developed commercial activities in Iraq, take proactive steps from the outset to ensure their compliance with the obligations of tax deposit in Iraq. ”