Tax of Banks in Iraq: Corporate Tax, Withholding, and Reporting
Banks in Iraq are subject to specific tax and reporting obligations which differ from general commercial entities due to the nature of financial activities and cross-border profit flows.
Tax Considerations
- Corporate income tax rates applicable to banks
- Withholding tax on interest, fees, and service payments
- Treatment of cross-border lending arrangements
- Stamp duties and banking charges
- Social security obligations for employees
- Financial reporting requirements and audits
Focus Areas
- Deductibility of provisions and loan losses
- Tax treatment of foreign bank branches
- Repatriation of profits
How Etihad Can Assist
Etihad provides legal and regulatory advisory services to banks, financial institutions, and businesses, supporting compliance with applicable laws, regulations, and regulatory guidance issued by any competent authorities.