On Thursday, Prime Minister Mohammed S. Al-Sudani chaired a meeting of the Higher Committee for Monitoring the Implementation of Tax Reform to assess the committee’s progress and the outcomes of recent efforts.
The meeting focused on the positive achievements made under the government’s tax reform decisions, particularly highlighting a 22% increase in tax revenues by early August compared to the same period last year. This growth comes as a result of a series of reforms introduced by the government, which have contributed to sustained financial improvements.
Prime Minister Al-Sudani emphasized the importance of tax reform within the government’s broader economic strategy. He clarified that tax reform is not just a temporary solution during periods of fluctuating oil prices but a vital component of Iraq’s long-term economic development, especially for diversifying the economy beyond oil.
The meeting also covered the expansion of the tax base through a self-assessment system, with certain exemptions already approved by the Council of Ministers. Discussions included steps to address taxpayer concerns and the tax treatment of private banks.
