Iraq Tax Tables 2024 - Tax Rates and Thresholds in Iraq
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This page contains the tax table information used for the calculation of tax and payroll deductions in Iraq in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ IQ, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Iraq or would like to add to or suggest amendments to the information herein then please contact us.
2024 Tax Tables [Quick Links]
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Iraq Personal Income Tax Tables in 2024
The Income tax rates and personal allowances in Iraq are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Iraq Tax Calculator 2024.
Iraq Residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 3% | Income from $ 0.000.00 | to | $ 250,000.00 |
| 5% | Income from $ 250,000.01 | to | $ 500,000.00 |
| 10% | Income from $ 500,000.01 | to | $ 1,000,000.00 |
| 15% | Income from $ 1,000,000.01 | | and above |
Iraq Non-residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 3% | Income from $ 0.000.00 | to | $ 250,000.00 |
| 5% | Income from $ 250,000.01 | to | $ 500,000.00 |
| 10% | Income from $ 500,000.01 | to | $ 1,000,000.00 |
| 15% | Income from $ 1,000,000.01 | | and above |
In Iraq, social security deductions made by employees are typically deductible when calculating taxable income. This means that the contributions employees make towards social security are subtracted from their gross income before the computation of income tax. As a result, these deductions effectively reduce the taxable income of employees, potentially lowering their overall income tax liability. This approach aligns with the Iraqi tax system's aim to provide some tax relief to employees, acknowledging their contributions to social security programs.
Iraq Social Security and Payroll Deduction Rates in 2024
In Iraq, the social security system involves contributions from both employees and employers, providing a range of benefits to support the workforce. The key elements of these contributions include pension funds, healthcare benefits, and disability and unemployment insurance.
Iraq Social Security in 2024: Rates for Employers and Employees| Category | Employee | Employer | Total |
|---|
| Social Security | 5% | 12% | 17% |
Iraq Social Security and Payroll Deduction in 2024: Earnings Thresholds for Employers and Employees| Category | Employee | Employer |
|---|
| Min. | Max. | Min. | Max. |
|---|
| Social Security | n/a | n/a | n/a | n/a |
Pension Fund Contributions: Contributions towards pension funds are designed to provide financial security for individuals after retirement. These funds ensure a stable income source during the later years of an individual’s life, contributing to their post-retirement well-being.
Healthcare Benefits: Healthcare contributions are allocated to provide medical coverage for employees and their families. This includes access to healthcare services, ensuring the overall health and well-being of the workforce.
Disability and Unemployment Insurance: Contributions also fund disability and unemployment insurance. These benefits offer financial support to employees who are unable to work due to disability or those who are temporarily unemployed, providing a safety net during challenging times.
The social security system in Iraq plays a crucial role in ensuring the welfare and financial stability of the workforce and their families. For employers, contributing to this system is a legal requirement, reflecting their commitment to employee welfare. This comprehensive approach to social security provides essential support across various life stages and circumstances, contributing to the overall socio-economic stability of the nation.
Iraq VAT Rates in 2024
VAT rates for Iraq are reviewed annually, you can use the VAT Calculator to calculate VAT due in Iraq or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.
Iraq VAT Rates| VAT Rate | VAT Description |
|---|
| 0% | Zero Rated |
| 15% | Reduced Rate |
| 20% | Standard Rate |
| 300% | Alcahol and Tobacco Rate |
Historic Tax Tables supported for Iraq
The following tax tables are supported by iCalculator™ IQ as part of the suite of free tax tools we provide for Iraq.