Proposed tax relief for contractors to speed up construction

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Proposed tax relief for contractors to speed up construction

Post  Admin on Sun Jul 23, 2017 2:00 pm

23/7/2017 12:00 am

Baghdad / Mustafa al-Hashemi

The current phase requires the implementation of a series of economic reforms, including the tax system. It is necessary to review the amounts paid by the public in return for improving services or converting the tax system to direct services in order to achieve economic feasibility.

Taxes are defined as mandatory financial contributions imposed on the activities, expenses, jobs and income of individuals, enterprises and enterprises to achieve the State's financial returns by imposing them on a range of sectors, services and goods.

Academic Economic d. Essam Mahaouli stressed the need to improve the tax reality through the introduction of a new system suitable for the current stage and meet the increasing need of the public in return for the provision of direct services to them.

 In an interview with al-Sabah, al-Mahawili said in an interview with al-Sabah, "If we want real benefit from taxes imposed on contractors, for example, we can reduce the tax on them in return for providing their companies with a certain service such as a street in an area or repairing sidewalks or contributing to the construction and reconstruction of buildings destroyed by terrorism, Edited.

He pointed out that this move would accelerate the reconstruction campaigns in the old city of Mosul, where the destruction rate is a record, noting that the adoption of this proposal will bring economic benefits and social alike.

Sobhi Fanar, 54, called for a review of the value of the taxes levied on selling and buying taxes, three times more than a few years ago.

In his speech to Sabah, Fanner said that the taxes paid by the citizen in return for direct and immediate services should be commensurate with the stage of the country, which has gradually begun to move towards privatization.

The General Authority for Taxation in Iraq aims to achieve revenues that contribute to the financing of the state budget, and to commit to the best application of tax laws in collecting the amounts achieved, finding new sources of income, expanding the base of the tax base to reduce tax evasion and achieving economic balance in light of the application of the principle of tax justice for all And the establishment of equal opportunities for taxpayers.

The Authority was introduced on 27/2/1982 based on the Law of the Ministry of Finance No. 92 of 1981 as a result of the incorporation of the Directorate of Public Income, which applied the Income Tax Law, with the Directorate of General Imports, which applied the Real Estate Tax Law and the Taxation Tax Law. .

"Taxation should bring justice to the distribution of wealth, but what really happens is to alleviate it to the rich at a time when low-income people are being charged for future services that our grandchildren may enjoy years later," said Astbrug Zidane.

"It is necessary that the tax amounts are appropriate with the services provided by the state to its citizens," Zaidan told Sabah. "The need to review the amounts of annual accumulations and provide facilities to the taxpayers should be reviewed.

In addition, the public should be made aware of the importance of taxation and its role in the distribution of national wealth, stressing that the taxpayers should be charged with their material income and economic conditions.

http://www.alsabaah.iq/ArticleShow.aspx?ID=141122

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