Companies Looking More Suitable Environment for Investment in Iraq

Economic Experts warned that the provisional stoppage of tax would be a stronger benefit for tax elusion. It would also allow engaging the taxable projects in economic cooperation with the excused in shifting profit projects using based prices of shared conversion as the payment price was fabricated evaluated with the purchased Items from the other companies. It was then rediscovered as masquerading payments and most of the companies have shown their expertise to find multiple ways in getting around the tax laws. It also enhanced the fraud chances. An economic expert James Baldwin also stressed that it is more difficult to find out such companies that are violating the exception in our tax administration system.

Baldwin further added that we have a number of openings that are avoiding the investors in the time period of provisional tax exception and stretched using to convert the investment project into a new project same as their closed project, but they restart the project using a different name for making more profits for its owners. She also said that the tax exemptions only allow short-term projects, but if we compare these short-term projects with long-term projects , then it resulted that these kinds of projects not considered more useful for the economy. She said that Iraqi government showed its confidence regarding tax issues at the time when Iraqi government permitted tax exceptions for this small level of companies. There is also a positive impact that a large number of companies have been motivated for these exceptions because these companies don’t need to get involved in corruption.

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