Throughout their operational presence in Iraq, we assist our clients in all matters pertaining to the financial management (taxation, accounting, auditing, and social security obligations and processing) of their in-country structures, activities, and local employees.
- We undertake tax and related accounting set-ups and systems;
- establishing Iraqi tax files and obtaining the corresponding Tax Identification Numbers (TIN);
- maintaining Iraq-based bookkeeping;
- converting financial statements to Iraqi unified accounting system;
- transforming financial statements based on GAAP accounting standard to Iraqi Unified Accounting System in compliance with local tax filing and record keeping requirements;
- assigning account codes accepted by the Iraqi Unified Accounting System and trial balance;
- ensuring that business income tax and related matters comply with current filing requirements of the Iraqi tax authorities;
- financial control risk assessment and review;
- internal audits and investigations; and
- training of clients’ local employees in the foregoing.