New taxes on Iraqis after the adoption of the budget of 2018

[yota691]

New taxes on Iraqis after the adoption of the budget of 2018

Monday 26 February

[Jaygo]

Don’t they need a currency worth something for this to be effective?

[yota691]

Government efforts to impose new taxes and warnings of high recession rates

 

Iraqi currency

  

 Reports

Economy News Baghdad

New taxes awaiting Iraqis after the passage of the draft law of the budget of 2018 is to impose sales of 10% on commercial centers and services provided in hotels and salons for men and women.

The government believes that the imposition of sales taxes is applied in the countries of the world and does not affect the citizens, which is part of the tax policy that Iraq started to work on.

In an interview with "Economy News," the spokesman for the Prime Minister's Office, Saad al-Hadithi, said that "the imposition of sales taxes is a paragraph within the draft federal budget for 2018, which has not yet been approved.

Al-Hadithi told "Economy News" that taxes are part of all the tax policies in force in the world and is not new for Iraq .

He stressed that "sales tax will not affect the owners of malls or large malls because they are making a good profit," noting that "economic policy is the decisions that are not external forces."

On the other hand, the Finance Committee stressed the importance of the abolition of the article on the imposition of taxes on malls, shopping malls and barbershops, men of the draft budget law for 2018 .

A member of the Committee, Jabbar Abadi, in an interview with "Economy News", it is wrong to impose taxes within the draft federal budget law because it will end after the end of the year .

"It is assumed that there are computers for the electronic account to know the amount of money sold by shops and on which basis to calculate the tax ."

He stressed that "the need to address informal shops uncontrolled and compete with the owners of regular shops," noting that the law on taxes on malls, shopping malls and barbershops need to be re-examined and evaluated in order to correctly recognize .

The economist, Abdul Rahman al-Mashhadani, agrees with the statement of the member of the Parliamentary Economics Committee, while commenting on the deletion of the tax articles from the federal budget bill for 2018, saying: "The federal budget law should not contain tax materials imposed on mobile phones and the Internet because the budget law Variable with each end of the year must be a special tax law . "

Mashhadani pointed out that the environment is not suitable to legislate the tax law for two reasons. The first concerns the status of the financial government, which witnessed growth in previous months compared to previous years, especially as Iraq emerged from a war that is not easy to drain its money .

He added that "the second reason relates to the suffering of citizens from financial distress because their economic activity is limited to their monthly salaries, while the rest of the activities are stalled ."

The economic expert warned that the implementation of the law will lead to a high rate of recession in the country, noting that "the recession leads to raise the unemployment rate ."

Views 39   Date Added 02/26/2018

[mannie2g]

I was thinking the same thing jaygo. Maybe the rate is in this budget, who knows.

[idplzr]

Taxes are assessed by percentage of income or sale. Not it’s value against another countries currency. 

1 hour ago, Jaygo said:

Don’t they need a currency worth something for this to be effective?

 

Edited February 26, 2018 by idplzr

[copper13]

1 hour ago, mannie2g said:

I was thinking the same thing jaygo. Maybe the rate is in this budget, who knows.

Let there be a rate in the budget. Let There Be A Rate In The Budget! LET THERE BE A RATE IN THE BUDGET!!! 🤞

[jake21]

Dont hold your breath 

[jeepguy]

8 hours ago, yota691 said:

government believes that the imposition of sales taxes is applied in the countries of the world and does not affect the citizens,

WOW  and we are waiting on these knuckleheads to help with dinar  ?   

 

8 hours ago, yota691 said:

that "sales tax will not affect the owners of malls or large malls because they are making a good profit," noting that "economic policy is the decisions that are not external forces

and they will wake up tomorrow wondering why no one is renting , or going to the malls ! 

 

8 hours ago, yota691 said:

He added that "the second reason relates to the suffering of citizens from financial distress because their economic activity is limited to their monthly salaries, while the rest of the activities are stalled ."

The economic expert warned that the implementation of the law will lead to a high rate of recession in the country, noting that "the recession leads to raise the unemployment rate ."

 

someone is getting the idea , they just need the  light bulb to click on  <-------- wait I know  raise the value of the dinar , then apply the tax , win WIN  when ...

[Goggles]

Exactly!! 

[SupraRacer]

You know the US went over there to liberate Iraq.  Help set up a gov't akin to ours, although they haven't quite figured out how to do it.  And now they can't figure out that taxes pay for the gov't????  Which the thieving GOI will probable charge 95% tax and wonder why there is a recession, unemployment, and the iraqis can't pay their taxes so the gov't can pay their salaries.  Maybe we should go back in there and explain to them that socialism doesn't work and is a mental disorder.  Where did we go so wrong??? 

 

SR

[10 YEARS LATER]

6 hours ago, jeepguy said:

WOW  and we are waiting on these knuckleheads to help with dinar  ?   

 

and they will wake up tomorrow wondering why no one is renting , or going to the malls ! 

 

someone is getting the idea , they just need the  light bulb to click on  <-------- wait I know  raise the value of the dinar , then apply the tax , win WIN  when ...

 

I love Surreal moments like this: statements like these from some of the " enlightened group of government officials ", well I needed a good laugh. It's just going to take a lot of time and patience before they catch up to the rest of the world.

 

The everyday citizen of Iraq was really cut off from the outside world when Saddam took power - Cradle to the Grave told what to think and do. What we see from statements like these is at first hilarious and a had scratcher, however, it exposes the underlying fundamental issue that plagues the country. They're exhibiting ( have been ) all the signs of having difficulty trying to govern themselves.

 

Most certainly cutting loose so many kids in the candy store led to monumental corruption and  graft . . . The temptation was/is too great for some folks with already rather questionable sense of ethics. I'm not painting the entire population with this brush, but all the same, we've received quite an education on this front.

 

They'll never get rid of it all ( what country doesn't have this issue ? ). Meantime they progress at their own pace and continue to provide us with a lot of comedy material. 

[yota691]

The General Authority for Taxes: The University Tax Law is not included in the draft budget for 2018

 

money and business Economy News _ Baghdad The General Authority for Taxation announced on Tuesday that the tax imposed on private universities will include its profits and its employees from professors and workers, stressing that it came within the tax law and did not fall within the draft federal budget for 2018. The Director General of the General Authority for Taxation, Abbas successful, in an interview with "Economy News", "All the universities will be included in the tax retroactive from 2016, and the employees are included in the college and its profits," noting that "the inclusion of universities in the civil tax came after The amendment to the National Education Law on the abolition of the tax exemption for civil universities. " She added that the Commission has introduced the civil universities within the Department of senior taxpayers because they enjoy high privacy and spread in Iraq has become widespread, noting that the government went to taxes because "the envelope imposes itself" and relying on revenue is wrong. She called on Abbas to focus more on consumption taxes as it regulates the economic process and reduces unnecessary consumption, especially as the society is a consumer. The taxes on mobile phone bills are about 500 billion a year.  "There are countries where taxes account for 40 percent of GDP, while in Iraq they make up only 5 percent of gross domestic product," she said. Views 243   Date Added 02/27/2018

[yota691]

Tax for «Economy News»: 13 trillion dinars revenues from 2013 until 2017

 

General Tax Authority

money and business Economy News Baghdad: The General Authority for Taxation said that the volume of tax revenues since 2013 until last year amounted to 13 trillion dinars, confirming the improved methods of collection. The Director-General of the General Authority for the successful Abbas said in an interview with "Economy News", "The Commission has worked seriously over the past three years because of the decline in oil prices, which previously the state depends on the proceeds of oil marketed to the outside, and then found the need to diversify Income and increase budget resources, the tax has a role in this subject. " Abbas showed that "in 2013 the amounts collected amounted to one trillion and 360 billion and in 2014 amounted to trillion and 465 billion dinars, while in 2015 there was a slight increase, amounting to trillion and 723 billion dinars and for the year 2016 doubled the amount to 3 trillion and 480 billion dinars, The year 2017 was 5 trillion dinars and this is a leap of quality. " Abbas attributed the increase during the years 2016 and 2017 to improved methods of collection in addition to the customs tax. Views : 210   Date Added 28/02/2018

[yota691]

 

Parliamentary Finance: We recorded an increase exceeding the 38% in non-oil revenues by 2018 budget

Economie

08:49

Last updated

The time now is 08:57 AM

1536

Watch

 

 

 

BAGHDAD / 
The Financial Committee revealed on Wednesday, the record of an increase in non-oil revenues in the budget this year, likely to resolve the file during today's session. 
Jabbar Abdul-Khalef, member of the committee, told Al-Ghad Press that "the committee, during its ongoing discussion during the past few days and in its final stages, recorded an increase in non-oil revenues by more than 38%, which increased significantly last year."

"Abdul-Jabbar expected that" the budget file for the last year will be resolved during the day after resolving the obstacles that face it according to possible mechanisms to pass the budget unhindered. "

[haymon]

Governments do have a tendency to screw some things up..

But they really want to do the right thing.

[blueskyline]

Perhaps a lot of the finacial security is now in place and they are receiving large funds . They seem greatly concerned . Buying more time to get things in order before they pass the budget 

[yota691]

The Tax Authority works to publish electronic payment tools at the commercial centers to collect sales tax

By

 rami

 -

March 3, 2018

4

0

 

 

 

The General Tax Authority announced that it is working to provide tax infrastructure through the deployment of electronic payment tools in shopping centers and shops to collect sales tax of 10%.
“The proposed sales tax in the 2018 budget is not imposed on professionals, but is deducted from the consumer,” Abbas said. “Taxation will diversify the economy, reduce the non-oil deficit and thus reduce the country’s dependence on oil.”
“We are working to provide tax infrastructure by deploying electronic payment tools in the market to collect sales tax,” she said.

[Floridian]

"The General Tax Authority announced that it is working to provide tax infrastructure through the deployment of electronic payment tools in shopping centers and shops to collect sales tax of 10%."

 

A 10% sales tax is pretty hefty, as a starting point.  Where I live it's 7%, and has been raised gradually over the years.

I'm thinking we will be getting our RV pretty soon, or how can these people possibly pay the tax?

[Floridian]

Well, so much for my 10% tax theory.  LOL

 

Parliament Speaker:  Reduction of sales tax from 10% to 5%.

March 3, 2018

 

Speaker of Parliament Salim al-Jubouri

money and business

Economy News Baghdad: Speaker of the House of Representatives Saleem al-Jubouri said that the 2018 budget included reducing the sales tax from 10% to 5%. He added in a press conference held at the House of Representatives and attended by “Economy News” that “the Council of Ministers was given the authority to add any financial allocations to address the shortage of salaries of employees and retirees and social protection network,” noting that “sales tax was reduced from 10% to 5% “He said. He explained that ” the vote was also to accelerate the title of the employee with a certificate during the service, and included the budget granting of loans by government banks to citizens whose homes were demolished by a preacher because of terrorist operations or during military operations during the liberation. He added that “the budget included the allocation of functional grades for employees of the Ministry of Defense and Interior and included the budget to pay salaries to employees and retirees in liberated areas.” He stressed that Parliament is keen to support the economy and the welfare of society and the market and raise the level of services through the adoption of the budget law 2018 .

http://economy-news.net/content.php?id=11348

[10 YEARS LATER]

On February 26, 2018 at 5:56 AM, Jaygo said:

Don’t they need a currency worth something for this to be effective?

 

You would think so. You don't need to be a Rocket Surgeon to figure this out, however, it's Iraq . . . this could be a real tough nut for these Jokers to crack.

 

How about you just RV your toilet paper currency Iraq ?  They'll get there at some point, we hope.

[yota691]

Speaker: Sales tax was reduced from 10% to 5%

By

 rami

 -

March 4, 2018

22

0

 

 

 

Parliament Speaker Saleem al-Jubouri said the 2018 budget included a reduction in sales tax from 10% to 5%.
He added in a press conference at the House of Representatives that “the Council of Ministers has been given the authority to add any financial allocations to address the shortage of salaries of employees and retirees and social protection network,” noting that “sales tax was reduced from 10% to 5%.”
He explained that “the vote was also to accelerate the title of the employee with a certificate during the service, and included the budget granting of loans by government banks to citizens whose homes were demolished by a preacher because of terrorist operations or during military operations during the liberation.
He added that “the budget included the allocation of functional grades for employees of the Ministry of Defense and Interior and included the budget to pay salaries to employees and retirees in the liberated areas.”
He stressed that Parliament is keen to support the economy and the welfare of society and the market and raise the level of services through the adoption of the budget law 2018.

[yota691]

Expert: The government's imposition of taxes will raise the level of inflation in the country

19:40 - 04/03/2018

 

  

Information / Special ...

The economic expert on behalf of Antoine, on Sunday, the government's imposition of taxes on goods and services to compensate the budget deficit will reflect negatively on the economic conditions of the citizen and will raise the level of inflation in the country.

Antoine said in a statement to the Agency / Information /, "The budget of 2018, which was read by the House of Representatives carried a deficit of over 13 trillion dinars, although the rate is lower than the previous budgets, but high and requires a series of measures to address it.

He added that "government measures will include the issuance of bonds in addition to domestic debt and the latest external with the imposition of taxes on income and property and services and some imported products that exceeded 25% of their import price," pointing out that "the imposition of taxes will be reflected directly on the citizen and raise the prices of goods in the markets Means greater economic inflation. "

The House of Representatives approved on Saturday the budget of 2018 worth 88.5 billion dollars with a deficit of 11 billion dollars, while the allocation of $ 20 billion for investment and projects, and approved the budget on the price of selling oil at $ 46 a barrel at a production rate of three million and 888 thousand barrels per day. Finished 25 k

[yota691]

Parliamentary Finance: 12 trillion and 500 billion dinars deficit by the budget of 2018

18:08 - 04/03/2018

 

  

Information / Special ...

The parliamentary finance committee announced on Sunday the existence of more than 12 trillion and 500 billion deficit in the budget of 2018 approved by the parliament yesterday, indicating a plan to fill the deficit of funds raised and high oil and loans.

"The budget deficit of 2018, voted by the House of Representatives yesterday amounted to 12 trillion and 500 billion dinars and a plan to bridge the deficit," member of the Committee Hossam al-Aqabi said.

He added that "the first step to fill the deficit of funds retained by the Ministry of Finance and surplus of high oil prices," noting that "the budget has approved the sale price of $ 46 a barrel and is currently sold $ 60."

"In the case of insufficient oil and revolving funds are recourse to domestic loans and then the latest external solutions to fill any budget deficit."

The House of Representatives voted, on Saturday, on the budget of 2018 amid the province of the Kurds and their threats to withdraw from the political process

[Big_J]

GM YOTA AND DV.

[yota691]

Finance: Oil revenues accounted for 85% of the budget for the year 2017

Iraqi currency
  

 money and business

Economy News Baghdad:

Ministry of Finance announced that oil revenues accounted for 85% of the budget for the year 2017, while non-oil revenues accounted for 15%.

The Ministry of Finance in the annual report of the budget of 2017, published on its website and viewed by "Economy News", "The size of the Iraqi state's spending during the year 2017 amounted to 75.4 trillion dinars, divided into 59 trillion dinars operational budget and 16.4 trillion dinars investment budget."

"The total oil revenues amounted to 65.4 trillion dinars and constitute 85% of the total budget revenues, while non-oil revenues amounted to 11.7 trillion dinars and constitute 15% of the total revenue."

Views 277   Date Added 06/03/2018