Law-Law amending the Income Tax Law No. 113 of 1982
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    Law-Law amending the Income Tax Law No. 113 of 1982

    Law amending the Income Tax Law No. 113 of 1982

    October 19.2015

    Name of the people

    Presidency

    Based on what passed the House of Representatives and approved by the President of the Republic and based on the provisions of subsection (I) of Article (61) and item (iii) of Article 73 of the Constitution

    Issued the following law:
    No. () for the year 2014

    Law amending the Income Tax Law No. 113 of 1982

    Article 1
    First: the following is added to Article (II) of the Income Tax No. 113 for the year 1982 and be paragraph (4), including: -

    4-value of the property or the right to dispose of it estimated in accordance with the provisions of the law estimate of the property value and benefits of No. 85 of 1978 or allowance, whichever is greater imposed on the owner of the property or the right to dispose of Ray and means of transfer of ownership or win the right to dispose of or transfer such as selling and bartering, reconciliation and waiver and giveaway and remove common and the liquidation or cessation Almassatahh treated and the treatment of the owner when the tenant lease the property, which came at his disposal contract Almassatahh calculated by progressive tax value of the property as follows: -

    A- First exempt from tax (50000000) fifty million of the estimated value of the property or suit this amount and distributed to companies according to their shares if the property is owned in common.

    B- Mazad is subject to tax on the amount of the exemption provided for in (a) of this paragraph according to the following percentages: -


    1. (3%) from three percent up to (50000000) fifty million dinars.

    2. (4%) of four percent on Mazad (50000000) fifty million dinars up to (100 million) a hundred million dinars.
    3. (5%) five percent of the Mazad (100 million) a hundred million dinars up to (150 million) one hundred and fifty million dinars.
    4. (6%) of six percent on the increased (150 million) one hundred and fifty million dinars.

    (C) if the transfer of ownership on the position of the arrows of the property tax is calculated according to the provisions of this paragraph on the pan and property collected by the arrows transferred to the pan Property


    (D) the ongoing giveaway between assets and branches, siblings or transactions between spouses are exempt from the tax under the provisions of this law.

    Second: -tsri the provisions of paragraph (4) of Article (II) of the Law on the ownership of the property transfer transactions or the right to dispose of it before that this law has no tax is paid by or for differences appreciation implications.

    Article 2
    The text of paragraph (10) of Article VIII of the law and is replaced by the following: -

    10.aksat life insurance to no more than a year on the amount of $ (5,000,000) five million dinars and the amount of $ (3,000,000) three million dinars for other insurance premiums, which have nothing to do Pmadr income paid during the year to be with the Iraqi insurance insurance company.

    Article-3
    repealed the dissolved Revolutionary Command Council Resolution No. 120 in 27/6/2002.


    Article 4.-
    The Minister of Finance to issue instructions to facilitate the implementation of the provisions of this law.


    Article-5-
    Bnfz this law from the date of publication in the Official Gazette.


    Reasons
    For the purpose of easing the tax burden on the shoulders of the citizen Ndhara of inflation in the property prices and encourage different kinds Altayman in line with the economic development ...

    Initiated this law


    ARTICLE LINK
    Last edited by Doodle Brain; 10-19-2015 at 05:04 PM.



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