Meena Business Consultancy Services

Menu
Menu

Accounting/Payroll Service in Iraq

Accounting/Payroll Service in Iraq

Focus on your business and benefit from outsourcing your accounting to Meena Business Consultancy Services.

With Meena Business Consultancy Services, you can rest assured and never fear a lack of skilled workers in accounting again due to illness-related absences or general shortages. We help you keeping your operations run smoothly. We are your new accounting department, whether you are new to an emerging market or a well-established company.

  • We take care of your accounting
  • We digitize your accounting
  • We ensure smooth processes

Your benefits at a glance:

  • We provide a plan on how to outsource accounting regardless of the shortage of skilled workers
  • No risks in the event of employee absences
  • Your internal costs are eliminated
  • Assurance of professional quality

The bookkeeping for Iraq consists of the following service items:

1- Accounting and Bookkeeping Service:

  • Bookkeeping and data processing according to (IFRS – IQ GAAP) depends on your needs  Fixed assets transactions (register, deprecation calculation, amortization)
  • Monthly preparation of bank and cash reconciliation
  • Accounts payable and Receivable
  • Prepaid, accruals and provisions
  • Expenses and revenues records
  • Monthly financial statements (Income statement – Financial Position – Cash flow)
  • Social security and income tax calculation
  • End of month register and closing entries
  • End of year register and closing entries.

2- PIT (personals income tax) and Social Security services:

  • Preparation of PIT on a monthly basis, and fill out the forms on quarterly basis
  • PIT payment on quarterly basis
  • Preparation of social security calculation on a monthly basis, and fill out the forms on a monthly basis
  • Social security payment on monthly basis
  • Year-end social security and PIT declarations and updates
Accounting/Payroll Service in Iraq
Accounting/Payroll Service in Iraq

3- Financial Statements:

  • Preparation of the Iraqi GAAP Financial Statements
  • Certification from Certified legal auditorImportant note: the above services provided does not include auditing, preparation of the financial statements as per IFRS

4- Tax Filing and company register renewal:

  • Contracting a local statutory accountant
  • Certifying the Iraqi financial Statements from the accounting syndicate
  • Submission the Iraqi financial Statements to the Tax directorate
  • Payment of CIT (company income tax) and obtaining a tax clearance
  • Company’s register update and company’s legal documents renewal