📊 Iraq’s Tax Reform Is Paying Off! 💰 Non-Oil Revenues Surge as Economic Strategy Shifts
"From Oil-Dependent to Revenue-Resilient — The Numbers Don’t Lie!" 🔥🇮🇶
📰 LATEST REPORT – Economy News | Baghdad
🚀 Non-oil tax revenues are soaring, proving that Iraq’s broad tax reform strategy is working:
📈 Revenue Breakdown:
2023: 3.07 trillion IQD
2024: 3.87 trillion IQD
H1 2025: 1.155 trillion IQD (already strong halfway through the year!)
🔍 Key Reform Actions Taken:
✅ Expanded the tax base
✅ Brought new sectors (like digital & e-commerce) under taxation
✅ Launched Cabinet Resolution No. 24074, targeting:
E-app companies
High-end restaurants & hotels
Foreign oil firms, private universities, mixed-sector companies
✅ Deployed full digital automation of the General Tax Authority 📲
✅ Rolled out electronic payment systems 💳
✅ Implemented self-assessment & audit models
✅ Introduced tax exemptions for agriculture, poultry, and hatcheries 🌾🐔
✅ Signed double taxation agreements with friendly nations 🤝
✅ Hosted Tax Reform & Economic Development Conferences, backed by the Prime Minister
📢 Why It Matters:
📉 Less dependency on oil = More economic stability
📊 Growing tax revenues = Stronger treasury & budgeting power
⚙️ Modernization = Investor confidence & regulatory transparency
This is more than just bookkeeping — it’s Iraq pivoting toward a sustainable, diversified economy, a crucial condition for currency revaluation and international credibility. 🌍💵
🌐 SOURCE: Read Full Article – Economy News
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📣 Bottom Line: Iraq is cleaning up its books, diversifying revenue, and playing by global economic rules — all green lights for what's coming next.
This isn’t hype — it’s happening. 👀⏳