Kurdistan postpones late taxes

Kurdistan postpones late taxes
6 hours ago

Twilight News / Kurdistan Regional Government decided to postpone the late completion of the companies and individuals for three months, attributed to the mechanism of the system of direct deduction of imports of employees and companies.

The tax law was passed by the private sector in 2011 and has been in effect since that date. However, since April this year, changes have been made to the mechanism of tax collection in a way that the corporate budget was submitted to the General Directorate of Taxes within one year in order to meet the taxes. The salaries of employees are directly taxed, but today the changes have been made every three months instead of one year. However, if any company is delayed, it is penalized by increasing the tax rate by 5 percent. If it is too late, the tax is doubled.

According to the decree No. (2617) on the Council of Ministers of the region signed by Prime Minister Nechirvan Barzani, it was decided to postpone the benefits of delays in the payment of taxes on the income of workers in the private sector from the end of the first financial period on 21 April 2017 until 21 July 2017.

According to the official book, reference was made to the reasons for the decision which are the changes made to the mechanism of direct interpolation system.

The decision to raise taxes on private sector salaries is implemented until April 21, 2017 and includes all companies.

There are more than 3,000 foreign companies in Kurdistan and 23,000 local companies operating in different sectors.



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