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21 March 2016

Iraq's General Commission for Taxes issues annual indicators for 2016

The Iraqi General Commission for Taxes (GCT) has published on its official website the annual indicators for assessment year 2016. The annual indicators relate to the application of deemed tax to supply contracts and general contracts signed with the Government, public companies, mixed sector companies, and foreign entities. The majority of the changes introduced by the new indicators are minimal; however, the new indicators include new language intended to clarify the application of the direct deduction tax (personal income tax) to supply contracts concluded by a foreign or nonresident company (i.e., a company with no legal presence in Iraq), and to subcontractors of international oil companies.

A Tax Alert prepared by Ernst & Young Jordan, and attached below, provides additional details.

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Document ID: 2016-0535

 

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