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Professions Commercial Business Regulations for 2023 (2024)

General Commission of Taxes in Iraq began working with the self-assessment method, which means the financial authority agrees in principle to deal with the results included in the financial statements and pay the tax accordingly. Then, a subsequent audit is conducted in accordance with the standards set by the Financial Authority, this self-assessment is considered an advanced method in the field of developing tax work methods that the authority seeks to achieve it, as self-assessment was adopted for the first time in the history of this authority at the wide level of taxpayers, individuals and companies, who are required to submit the financial statements.

The estimated regulations for the fiscal year 2023 (2024) are a guidance for those who carry out the tax calculation process to work according to it, including the direct_deduction_tax.

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Social Security

As a devoted tax services firm, we specialize in providing thorough Social Security services tailored to address the varied needs of our clients. Going beyond standard compliance, our dedication is to be a strategic partner in helping navigate the intricacies of Social Security obligations.

  • Central to our Social Security services is the smooth registration of clients for social security purposes. We lead businesses through the registration process, guaranteeing that all pertinent details are precisely recorded and in accordance with regulatory requirements.
  • Our assistance extends beyond mere paperwork. We aid clients in navigating site inspection processes, ensuring a seamless experience during the verification phase. Proactively addressing site inspection requirements, we contribute to the efficient completion of this crucial step in social security compliance.
  • Punctual and precise filing is a distinguishing feature of our Social Security services. We manage both monthly and annual filings, meticulously preparing all necessary documentation and submitting it within specified deadlines. Our proactive approach minimizes the risk of oversights, strategically positioning our clients for seamless compliance.
  • Acknowledging the distinct challenges linked to expatriate employment, we specialize in obtaining exemptions for expats from specific social security obligations. Our proficiency in navigating the regulatory landscape enables us to enhance compliance while minimizing financial implications for businesses that employ expatriate staff.
  • Our offerings include the issuance of clearance letters, a pivotal element in various business transactions. Whether for mergers, acquisitions, or other strategic activities, we guarantee that our clients efficiently secure the required clearance letters, thereby contributing to the seamless advancement of their business operations.

 

Contact

info@hinkaiq.com

+964 781 500 1400

+964 751 500 1400

Offices

Iraq: Baghdad , Basra, Erbil , Mosul 

UAE: Dubai

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