Commission welcomes the new economy, the central bank to sell the dollar procedures

[yota691]

04/15/2015 (00:01 pm)   -   the number of readings: 632   -  number (3338)

 

 

Commission welcomes the new economy, the central bank to sell the dollar procedures

BAGHDAD - Ali See 
 

A commission parliamentary economy, on Tuesday to impose the central bank of a new mechanism for the collection of taxes and fees customs of the sale of the dollar, and as the Economic Advisor to the Prime Minister described the move as "reform", counting economist central restrict the sale of $ 75 million a day "contrary to law".

He told the Committee of Economy parliamentary member Ahmed Salim Abdul Rahman in an interview for the "long", that "the central bank imposed a new mechanism for the collection of taxes and fees customs of the dollar selling to traders and investors who intend to introduce their goods to Iraq." 
He added, Abdul Rahman said, "The new mechanism will contribute to ascend Iraqi economy and control over foreign and domestic capital, "he almost" start working the new mechanism two weeks ago and will be obtaining the approval of the House of Representatives to continue this project. " 
For his part, Economic Adviser to the Prime Minister said the appearance of Mohammed Saleh in an interview for the "long", that "the mechanisms taken by the Central Bank of Iraq, which does not mean exemption from taxes or give up fees, but to facilitate the smooth flow of goods enter. " 
Saleh added by saying that "traders are paying 3% tax Amana Income, and 5% in taxes Kmarkip, as traders pays sums of money in customs," pointing out that "this money is a burden on the shoulders of importers." 
promised economic adviser, "the steps taken by the central bank at the moment reform measures." 
For his part, said economic expert on behalf of Jamil Anton in an interview for the "long", that "the Central Bank under after approving the budget, not to sell more than 75 million dollars a day while the demand exceeds this figure in the local market determined by supply and demand, "adding," the former Central Bank of Iraq sells amounts depending on market demand for him, but he is restricted and can not overcome the barrier of 75 million dollars . " 
He added, Anton said, "This decision is contrary to the law of the Central Bank, but the House of Representatives is developed, prompting the Bank filed an appeal and objected to the decision," pointing out that "selling the dollar at the central bank led to the rise of the dollar in the market to 1350 compared to the price of direct cashed. " 
The expert pointed out that "the bank was forced to set conditions that led clearly to the high prices of goods and services in the country, including the force who wants to buy the dollar for the purpose of import deposit a certain amount for 15 days and then adds his 8% of which 3% as collateral for the income tax and 5% customs tariff. " 
He continued Anton "The central bank took action intact in increasing the share of government banks and banking offices in an attempt to reduce the severity of the crisis and reduce the dollar exchange rate in the market price to converge between the official rate and the parallel price him in the market, "warning of the existence of" a class of speculators or brokers who are trying to foment crisis larger for the purpose of obtaining large profits from selling the dollar to the citizen. "

 

 

[justchecking123]

Yota, before everyone wakes up, maybe you could give your take on this? TrinityX as well when he checks in. Carry on...

[SgtFuryUSCZ]

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[Boozer]

Tax are a Burden on my shoulders TOO !!!

[new york kevin]

My first thought on this article is that if this law or policy is allowed to stand, and the sale of USD is funneled through the CBI, and the sale is limited to no more than $75 million USD a day that it will raise the market price of the USD, and this is a good to great thing. The more IQD that must be spent to buy now the artificially Limited amount of USD, the more over all IQD notes will be removed from circulation. This will lower the note count, which will raise the potential value of the IQD. Which means that when the IQD increases in value it may be at a higher rate, and at a figure the CBI will not strain to maintain. This despite the world market problem with the price per barrel of oil, the internal inflation rate for goods and services inside Iraq, and the battle against ISIS.

[SgtFuryUSCZ]

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Thank you, NYK... we like yer post ! 

[TCRooster]

Im thinking very good news indeed! 

[RV4CandyMan]

Pondering the possibilities! 

[sandfly]

THANKS