Sales taxes on products of the electronic store in Iraq

If you plan to launch your electronic store, it is important that you know how to calculate taxes on sales of e-shop in Iraq2023. In addition, this requires knowledge of domestic tax legislation and regulations, where tax laws vary according to geographical area and the quality of goods sold, we give you all the details in the following article.

Are your sales in Iraq subject to the tax system?

All companies 88% or 88% are regulated by Iraqi laws, or under other international laws and are located in Iraq, % income tax per% shall be applied to Iraqi individuals who reside, whether within or outside Iraq, regardless of where the income is received. For foreign companies registered in Iraq, or who have a pre-existing exchange, % tax shall be imposed on their income in Iraq.

How to calculate sales taxes on products of the electronic store in Iraq

In Iraq, a profit tax is levied (for companies and e-commerce) during the tax period by 15%. The General Tax Authority has set the range of tax profits by 10-14% for 2008, depending on the type of activity performed by companies.

• 3% for work estimated at 250,000 dinars.
• 5% of 250,000 - 500,000 dinars.
• 10% of 500,000 - 100,000 dinars.
• 15% over 1 million dinars.

In Iraq or which has a permanent establishment in the country, e-markets must pay tax only on profits in Iraq, regardless of the location of receipt of profits, and the necessary tax procedures should be adhered to and cooperate with the General Tax Authority to avoid any infringements that may result in sanctions and fines.

Importance of accounting for sales taxes on products of the electronic store in Iraq

1. The taxation system is one of the main mechanisms for financing the State treasury and supporting economic development processes. Use the tax system to stimulate and channel investments towards critical sectors of the economy, including the e-economic. 3. The tax system can play a role in the control of economic phenomena affecting society, such as recession and inflation, by adjusting prices, taxes and fees. 4. To improve the distribution of wealth and income in society. [Also read: 10% to start a free electronic store in Egypt.] (https://trinavo.com/10-d8%d9%81%d%8%8%d%8%8%8%d%8%8%8%d%8%8%8%8%d%8%8%8%8%8%d%8%8%8%8%d%8%8%8%d%8%8%8%8%8%d%8%8%8%8%d%8%8%8%d%8%8%8%8%8%d%8%8%8%d%8%8%d%8%8%8%8%8%8%d%d%d%d%8%8%d%8%8%8%d%8%8%8%d%d%8%d%8%8%8%8%

How can taxes on my electronic store be legally reduced in Iraq?

According to the Iraqi Tax Authority, there are many goods and businesses exempted from the annual income tax and sales tax, including plant and animal products, industrial products and other goods and facilities; domestic and foreign companies registered in Iraq may also use some legally adopted tax exemptions, such as deduction of payable and depreciation costs, and liquidation of losses that may be incurred for subsequent five years, depending on Iraq ' s tax regulations.

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