Economist: Budget taxes will result in reduced income and the value of the dinar
Economist: Budget taxes will result in reduced income and the value of the dinar
2018-03-06 at 13:18 (Baghdad time)
Baghdad Mawazine News
The economic expert, Salam Samisem, on Tuesday, the taxes in the budget will lead to the reduction of income and the value of the dinar, stressing that it will be a burden on citizens.
“After taxing, the Iraqi citizen has become a victim of double taxation,” Samisem told Mawazine News.
She added that “the Iraqi individual is covered by the income tax that will be paid by the employee and pensioner and the gains, which range between 3-15% and this is a direct tax.”
“There are consumer taxes that will be a burden on the citizen too, which will pay the tax twice,” she said.
The expert stressed that “the tax will reduce the real value of income and therefore will be a new inflationary wave will affect the price levels in Iraq, then the real value of the Iraqi dinar will fall.”
The Iraqi government announced that it will impose additional taxes on a number of products in the budget for the year 2018 to get one trillion dinars, indicating that every five employees are to retire will replace one employee, saving 600 billion dinars.
mawazin.net
