Market Talk – July 26, 2024
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 202.10 points or -0.53% to 37,667.41 Shanghai increased 4.16 points or 0.14% to 2,890.90 Hang [...]
Iraq & Hunt for Taxes from American Contractors
Iraq has been accused of employing strong-arm tactics to make American military contractors operating in Iraq to pay exorbitant income taxes. They are running to Trump complaining that this is hampering the fight against Islamic State extremists – of course.
The Iraq government is demanding millions of dollars in taxes that these contractors earn providing services in Iraq. Iraqi government officials have refused to issue, or have delayed, the delivery of work visas to employees of companies that refuse to pay income taxes. They are running to Trump crying that the Iraqi authorities have held up delivery of essential supplies, such as food, fuel, and water according to The Associated Press.
Interesting how the hunt for taxes is impacting everything. Of course, any foreign company doing business in the USA has to pay taxes to the USA on what they earn. Why should this be any different?
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