Tax Reform Committee: Recorded at Twenty Percent

Baghdad – INA – Hasan Al-Fawaz
The Higher Committee for Tax Reform confirmed today, Saturday, a rise in private sector companies’ voluntary tax declarations by more than 40%. While revealing a recorded revenue growth reaching 20%, the committee noted that cooperation with international institutions contributed to implementing tax reform within several parameters.

Khalid Al-Jabri, member of the Higher Committee for Tax Reform, told the Iraqi News Agency (INA):
“The Tax Reform Conference for Economic Development and Investment Activation, held last week, reflects a wide package of reform measures implemented over the past months.” He pointed out that “the conference included a presentation of digital impacts, including tax revenue growth last year compared to the previous year by over 20%, with expected growth this year to reach between 30 and 35%.”

He added, “These impacts contributed to activating the commercial register, as several private sector companies increased voluntary declarations, with activity rising by more than 40%, indicating an economic movement that began to strengthen trust between the General Tax Authority and taxpayers.” He noted that “this trust started to materialize through facilitation of business procedures, leading to gradual growth in economic activities.”

Al-Jabri explained, “There is cooperation with international institutions, such as the Tax and Investment Center in Washington, which helped the Higher Committee address many of the challenges facing tax reform. Additionally, unifying Iraqi standards with international standards aims to enhance the economic environment in Iraq and attract foreign companies to invest in the country.”