Economy News – Baghdad
The director of the offices of the German Agency for International Cooperation (GIZ) in Iraq, Christopher Flocter, confirmed on Thursday that Iraq is progressing well towards economic stability, stressing the importance of modernizing tax laws in Iraq.
“Iraq is making good progress towards stability, as economic stability is an essential part of this progress,” Flocter said in a statement reported by the official news agency, and seen by “Economy News.”
“There are many new sectors that have emerged in Iraq, such as transport, the transition to the electronic economy, renewable energy, and other fields that did not exist twenty years ago,” Flocter explained.
He stressed that “this development requires the updating of tax laws, as tax instructions or laws that have passed twenty or thirty years cannot be applied.”
He pointed out that “the existence of stable institutions is part of stability, which is what the German agency is working to support through joint cooperation between experts from the Iraqi government and experts from the German government.”
“The German government is proud of this achievement, and its happiness with partnership and mutual trust with the Iraqi government,” Flucter said.
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Added 2024/09/19 – 3:16 PM
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