Measuring and Analyzing the Impact of the Iraqi Stock Market Indices on the General Taxes in Iraq During the Period (2008-2020)
Keywords:
financial markets, tax, tax revenues, Iraq Stock ExchangeAbstract
This research attempts to answer the following questions (Do the Iraq Stock Exchange indicators have an impact, whether directly or indirectly, on tax revenues, and how will this impact be, is it positive or negative, and how does the Iraq Stock Exchange contribute through the companies dealing in it in financing the revenues? tax. As the importance of the research emerges by enabling researchers and those interested in scientific research to identify the most important indicators of the Iraqi market for securities and their impact on Iraqi tax revenues, giving more light on tax revenues, which has become one of the important areas, the researcher hopes that the research will contribute to increasing knowledge Scientific and practical in this field, and thus the study will form the starting point for other future studies. As this research started from the hypothesis that ((the financial market indicators do not directly affect the public tax revenues in Iraq during the period (2008-2020)). In order to prove this hypothesis, the Toad Yamoutou causal model was used in order to measure and analyze the impact of the Iraq Stock Exchange indicators on tax revenues for the period (2008-2020).
This research has reached a set of conclusions, including (based on the Toda Yamoto causality test, which showed that the independent variables (financial market indicators) do not cause or affect public tax revenues in Iraq during the period (2008-2020)
The reason why the indicators of the Iraq market for securities did not affect tax revenues in Iraq during the study period according to the economic perspective is the weakness of the economic role of the private sector in all its joints in Iraq, and since the private sector in all its branches is the main engine of the financial markets, so we note that the Iraq market for securities Finance is an ineffective market in Iraq compared to the financial markets in Arab countries or foreign countries).
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