Iraq’s Prime Minister, Mohammed Shia Al-Sudani, presided over a meeting of the High Committee for Tax Reform on Thursday, where significant strides in the nation’s tax policies were evaluated. During the session, committee members reviewed the successful implementation of various governmental reform initiatives, which have contributed to a notable 22% rise in tax revenues as of early August compared to the corresponding period from the previous year.
Al-Sudani underscored the importance of tax reform, characterizing it as a strategic imperative for bolstering Iraq’s non-oil sector. He maintained that these reforms should be viewed as a proactive measure rather than a mere response to fluctuations in oil revenue. The discussions also encompassed strategies to expand the tax base, tackle challenges faced by taxpayers, and formulate new tax regulations with the collaborative support of Germany’s GIZ (Gesellschaft für Internationale Zusammenarbeit). The focus is on aligning with international standards while simultaneously fostering growth within the private sector.
Additionally, the committee took note of advancements in tax compliance within Iraq’s oil extraction industry, signaling a positive trend in the country’s overall economic management.
