EMPLOYING TAX DIGITALIZATION TECHNOLOGIES TO IMPROVE ACCOUNTING AND TAX COLLECTION PROCEDURES IN IRAQI PRIVATE BANKS: AN ANALYTICAL STUDY OF SOME BANKS LISTED ON THE IRAQ STOCK EXCHANGE

Abstract

This research aims, both theoretically and practically, to demonstrate the role of employing tax digitalization technologies in improving accounting and tax assessment procedures in a sample of Iraqi private banks listed on the Iraq Stock Exchange during the period (2022-2024) by analyzing the actual application of these technologies in accounting and tax systems. This research adopted an analytical approach, relying on data from the tables of the sampled banks, which included Baghdad Bank, the International Development Bank, the Credit Bank, and Ashur Bank. The analysis also examined the timing of financial statement submissions, the amounts of taxes calculated, and the losses incurred due to the absence of automated systems. The results revealed a clear discrepancy in the timing of financial statement submissions to the General Authority for Taxes, reflecting a weakness in the automation of accounting and tax procedures.This weakness impacts the accuracy of tax calculations. The research concluded that using electronic payment systems makes cash liquidity a crucial element in implementing the federal budget, rather than a burden during periods of scarcity. Furthermore, the use of these technologies significantly contributes to improving the performance of staff working in the Tax Authority, making them more committed to implementing decisions that facilitate tax accounting procedures. The research recommended that Iraqi private banks adopt digital systems for tax accounting, develop their digital infrastructure, and organize training programs for bank and tax authority employees to ensure the effective implementation of digitalization and improve the efficiency of the tax system.