Federal Iraq - Tax News Flash

14 October 2024 - Following the recent press release regarding the establishment of a Supreme Committee (SC) as per the Executive Order issued on 2 March 2024 by the Iraqi Prime Minister’s Office, a Memorandum of Understanding (MoU) has been signed between the SC and the International Tax and Investment Center (ITIC) for Monitoring the Implementation of Tax Reform in Iraq.

The ITIC is an independent, non-profit research and educational organization established in the 1990s to improve the investment climate in transitioning economies by engaging with public-sector stakeholders and promoting tax reform. 

The organization has been present in Iraq for the past 20 years, collaborating with the Ministry of Finance, Oil Companies, International Oil Service Companies, and other international consulting companies through regular meetings.

The MoU recently signed between ITIC and SC is a step towards improvement of the investment climate and economic growth in Iraq. The SC will benefit from international technical inputs in the field of tax policy brought by the ITIC, serving the purpose of achieving tax reform while ensuring that it aligns with the country’s economic reality.

Deloitte Iraq has officially joined the ITIC the Iraq Tax and Customs Working Group and started engaging in related activities. We are delighted to be able to contribute and bring our expertise to this ongoing dialogue aiming at enhancing the country’s tax environment.

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