Tax laws in Iraq are outdated, change is a must; MP says

Shafaq News/ A member of the Parliamentary Financial Committee on Sunday shed light on the need to adjust the taxation system in Iraq in line with economic and political developments in the country.

Committee member, MP Ahmed al-Saffar, told Shafaq News Agency, "majority of the laws that regulate taxes in the country are ancient. It dates back to the past century, like the income tax act no. 113 of 1982."

"It is not an issue of a single law. We need to legislate new taxation laws that get along with the economic, financial, administrative, and political situation. It shall reflect the political and economic policy of the state."

"Taxation laws shall be flexible and account for the economic climate of the country, whether in distress or recovery..."