Iraq: Selected Issues
IMF Staff Country Reports, May 16, 2024
Source details
- Canonical URL
- Iraq: Selected Issues
Other formats
Bibliographic details
- Published: May 16, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400275739.002
Summary
- This Selected Issues paper offers a roadmap for tax policy measures and structural reforms that could be used to raise non-oil revenues.
- Raising non-oil revenues is a key priority because of the expected decline in oil prices, as well as the need to ensure long-term fiscal sustainability and meet sizeable spending needs.
Near-term revenue measures
- Review the tariff structure to eliminate exemptions.
- Raise tariffs on luxuries.
- Make the personal income taxes more progressive.
- Broaden tax bases.
Medium-term reforms
- Move towards adopting the value added tax.
- Tackle structural obstacles to revenue mobilization:
- informality
- lack of economic diversification
- low levels of financial inclusion
- high reliance on cash
Institutional capacity and support
- Significantly accelerate institutional reforms of revenue and customs administration.
- Leverage support of IMF and other donor capacity development efforts.
Publication and metadata
- Publication date: May 16, 2024
- Pages: 40
- Volume: 2024
- Issue: 129
- Series: Country Report No. 2024/129
- DOI: https://doi.org/10.5089/9798400275739.002
- Stock No: 1IRQEA2024002
- ISBN: 9798400275739
- ISSN: 1934-7685
- Subjects: Employment, Gender, International organization, Labor, Labor markets, Monetary policy, Revenue administration, Women
- Keywords: C. assessing Drivers, Employment, Global, informality distance, labor market challenge, labor market indicator, labor market structure, Labor markets, Middle East and Central Asia, Women
Source: IMF Staff Country Reports — "Iraq: Selected Issues" (May 16, 2024).
Content in this bundle
- Iraq: Selected Issues; IMF Country Report No. 24/129; April 10, 2024