KTFA
Clare » December 31st, 2023
Positive government steps to attract major international traders and companies
12/30/2023
The Federation of Iraqi Chambers of Commerce revealed the existence of positive government steps that will attract major merchants and international companies.
The president of the union, Abdul Razzaq Al-Zuhairi, told the Iraqi News Agency (INA): “Entering the electronic platform to pay taxes has become inevitable, and will be implemented within the time frame set by the General Tax Authority, but there is a major problem represented by small merchants who now represent the majority.
They are forced to… To go to the parallel market,” noting that “there has been an old fear for decades, between the merchant and the government.”
He pointed out that “a positive tax system has been launched, but we need to restore trust between the merchant and the government.”
He added, “The majority of the Iraqi market is made up of small merchants, due to the circumstances that Iraq went through,” adding, “The equation will change during the coming period, and large international companies and labels and large merchants will enter the Iraqi market, while small merchants will be shoppers.”
He stated that “taxes created a kind of gap and problems for many Iraqis, including the loss of files, the similarity of names, taking deposits without refunding them, calculating the tax twice, and other problems.”
He stressed that “the recent decision by Prime Minister Muhammad Shiaa Al-Sudani will change many of those problems mentioned above, but implementation needs to be strict.”
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He pointed out that “Iraq deals with white money with countries around the world, so the issue of the electronic platform is positive, and it is a global step.” LINK
Source: Dinar Recaps
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