jsteinsb --
"The highest individual and corporate income tax rates [in Iraq] for
2004 and subsequent years shall not exceed 15 percent."
Source: L. Paul Bremer, Coalition Provisional Authority Order Number
37, "Tax Strategy for 2003" (October 2003).
This pronouncement has been reliably reported as meaning that the new
tax rate will be a flat tax of 15%, not a sliding scale beginning at a
lower rate.
Under the Hussein regime, the top rate was 45%, but very little, if
any, attempt was made to collect taxes from individuals, and most
businesses were owned by the state. The new 15% rate will set Iraq's
tax rate at a much lower level than that of other Middle Eastern
countries.
This development, and its cheering by flat-tax advocates in this
country, is explained in this November 2 article in the Washington
Post:
Washington Post: U.S. Administrator Imposes Flat Tax System on Iraq
(November 2, 2003)
http://www.washingtonpost.com/ac2/wp-dyn/A50031-2003Nov1?language=printer
Additional Site:
Here is a link to the reaction by flat-tax advocate Jack Kemp to this
pronouncement:
Townhall.com: Jack Kemp: Flat Tax Revolution (November 10, 2003)
http://www.townhall.com/columnists/jackkemp/jk20031110.shtml
Search Strategy:
I remember reading the Washington Post article and found it using the
following Google search:
iraq "income tax"
://www.google.com/search?sourceid=navclient&q=iraq+%22income+tax%22
I am confident that this is exactly the information you are seeking,
and I am happy to have been able to provide you with it promptly. If
anything is unclear, please ask for clarification before rating this
answer.
markj-ga |
