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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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Employment

We offer our specialized knowledge in a broad range of employment-related services, guiding our clients through the complexities of tax obligations linked to their workforce. Our comprehensive suite of services spans various facets of employment tax management, providing a holistic approach to address the ever-changing needs of businesses. Here is a more detailed overview:

  • Streamlining the employee registration process seamlessly marks a pivotal initial phase within our service portfolio. We guarantee the proper registration of all employees for tax purposes, aligning meticulously with regulatory mandates to cultivate a workforce that adheres to compliance standards.
  • Our skilled professionals proficiently manage both monthly and annual tax calculations for employees. Remaining vigilant about the latest tax laws and regulations, we guarantee precise and current calculations, fostering transparency and strict adherence to legal standards.
  • Ensuring punctual and precise tax filing is a fundamental aspect of our services. We assume responsibility for the complete tax filing process, handling everything from monthly submissions to annual returns. Our proactive methodology minimizes the risk of oversights, enhancing the overall efficiency of our clients’ tax compliance.
  • Exploring the complexities of employee taxes, we perform comprehensive assessments to analyze the tax situation of individuals within the workforce. This involves a thorough examination of payroll details, allowances, and benefits, aiming to ensure compliance and optimize tax positions effectively.
  • Our extensive range of employment-related services encompasses the adept management of payroll intricacies. We take charge of processing payroll, covering deductions, allowances, and tax withholdings to guarantee precision and efficiency in each pay cycle. By handling these intricacies, we enable our clients to concentrate on their core business activities, confident that we are expertly managing the complexities of employment tax on their behalf.

 

 

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